Sparc Group, the retail operating platform controlled by brand management firm Authentic Brands Group and mall operator Simon Property, won the stalking horse position in a bid to buy Brooks Brothers with a $305 million offer as part of that retailer’s Chapter 11 bankruptcy process.
The stalking horse nature of the asset purchase agreement, which entails acquiring the retailer as a going concern and includes 125 stores, means that it is still subject to higher offers.
Sparc
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