Brooks Brothers is poised to be acquired by a venture backed by apparel-licensing firm Authentic Brands and mall owner Simon Property after brand-licensing company WHP bowed out of the race for the bankrupt retailer
Brand-licensing company WHP Global Inc. has bowed out of the race for Brooks Brothers Inc., according to people familiar with the matter, leaving a venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. poised to take control of the bankrupt retailer.
Like Authentic Brands, WHP Global buys consumer brands, often out of bankruptcy, and revives them by shedding unprofitable locations.
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