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CD8 to collaborate with American Group for Brooks Brothers’ acquisition


Investors group Club Deal 8 (CD8), which aims to buy American retailer Brooks Brothers, plans to collaborate with an American Group to support its strategies for the acquisition of the Black Label. Brooks Brothers has obtained $80 million in debtor-in-possession financing from ABG-BB LLC, a partnership between Authentic Brands Group LLC and Simon Property Group Inc. ABG is open to working with the Italian group, although any partnership would most likely involve a licensing arrangement rather than a co-ownership deal.

Last month, Brooks Brothers filed a motion in the US Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with Sparc Group LLC, a company backed by ABG with Simon Property Group. The CD8 offer will stand on three pillars: sustainability; a lower number of stores compared to the 125 proposed by Authentic Brands Group, which has stepped forward with a $305 million stalking-horse bid to purchase Brooks Brothers, and a greater emphasis on the online channel.

CD8 investors include Alessandro Giglio, President, Giglio Group; the Biella-based Gruppo Verzoletto; Brando Crespi, Founder, Pro-Natura; legal manager Lorenza Morello, and Studio Dentons as an adviser.