// Authentic Brands Group closes in on discussions about acquiring footwear retailer Hunter
// The deal, which could value the retailer as much as £100m, is expected to be finalised “within weeks”
Ted Baker owner Authentic Brands Group is set to acquire footwear retailer Hunter after being named as the brand’s preferred bidder.
The deal, which would put an end to a lengthy sales process, could value the retailer as much as £100m, Sky News reported.
Baozun, a Chinese digital commerce group which owns Gap’s Greater China operations, has not been officially knocked out of the race to acquire the brand and remains interested if talks with Authentic fall through.
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Hunter was put up for auction back in March after it secured a £7m funding lifeline with existing shareholders injecting £5m into the business and lenders contributing a further £2m.
The retailer is currently working with advisers at AlixPartners on the auction which is likely to be finalised “within weeks”.
The company was last saved in 2020 from a £16.5m capital injection, part of which came from Pall Mall Legacy, a fund backed by Goldman Sachs and existing shareholder Three Hills Capital Partners.
The development comes as former Jigsaw boss Chris Stephenson has been named as Hunter’s interim CEO following the news that Paolo Porta has moved across to Smythson.
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