US licensing company Authentic Brands Group (ABG) has reportedly been named as one of the several parties showing an interest in a takeover bid for British retailer, Ted Baker.
ABG, which recently acquired Reebok and holds a stake in David Beckham’s brand, is said to have joined the formal sales process, which was established by Ted Baker, after the brand said it had received a flurry of interest in a potential sale.
Reported by Sky News, it was not yet certain if ABG had made an actual offer for the label, but sources for the media outlet said it was among a number of other companies weighing whether or not to do so.
Ted Baker’s sale process kicked off earlier in April following an unprovoked takeover bid from private equity firm, Sycamore Partners.
Initially refusing the American company’s initial offers, the first of which was for 250 million pounds, Ted Baker said it had decided to launch a formal sales process after it said there had been a number of parties displaying an interest.
The retailer is currently going through a brand transformation, which has seen it launch a new website and undergo a brand repositioning strategy.
ABG has not yet responded to FashionUnited’s request for comment on this matter.