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Highlights:
- Authentic Brands helps build and elevate the long-term value of a brand through partnerships with retailers, wholesalers, and manufacturers.
- Authentic Brands holds more than 30 brands in its portfolio, including Van Heusen, Arrow, Forever 21, Nautica, and Aeropostale.
- Last year in July, the New York-based brand management company had filed its proposal with the Securities and Exchange Commission to go public.
As many private companies look forward to going public this year, a brand management company announced on Thursday, January 6, that it had withdrawn its initial public offering (IPO) plans.
According to the documents filed with the regulatory authorities, Authentic Brands Group is no longer interested in going public in the US equities market.
Last year in July, the New York-based brand management company had filed its proposal with the Securities and Exchange Commission to go public. However, Authentic Brands had later shelved its listing in November.
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While shelving its public debut plans in November, Authentic Brands had said that instead of an IPO, it would sell its stake to private equity firms like HPS Investment Partners and CVC Capital Partners.
The deal with private equity firms was reportedly valued at US$ 12.7 billion, including debt.
Authentic Brands Group: Key Details
It is a brand management company, and Authentic Brands' portfolio includes entertainment, apparel, and athletics brands.
According to the company's website, Authentic Brands helps build and elevate the long-term value of a brand through partnerships with retailers, wholesalers, and manufacturers.
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Authentic Brands holds more than 30 brands in its portfolio, including Van Heusen, Arrow, Forever 21, Nautica, and Aeropostale.
The documents filed with the regulatory authorities revealed that Authentic Brands had registered a massive surge in its profit in 2020.
The company's net income was US$ 225.3 million in 2020, up from US$ 96.5 million in 2019. Meanwhile, as of March 31, 2021, Authentic Brands' cash and cash equivalents were worth US$ 457.3 million.
Bottom line
As a retail investor, you won't be able to buy the Authentic Brands' stock. The company has withdrawn its IPO plans to remain a private company, and retail investors can only invest in companies listed on a stock exchange.
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Notably, Authentic Brands was supposed to list its shares on the New York Stock Exchange (NYSE), and it was supposed to trade under the stock symbol AUTH.
