Vince Holding Corp., (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it has completed the previously announced transaction (“Authentic Transaction”) with Authentic Brands Group (“Authentic”), a global brand development, marketing and entertainment platform. As part of the transaction, VNCE and Authentic have entered a strategic arrangement whereby VNCE has contributed its intellectual property to a newly formed Authentic subsidiary (“ABG Vince”) for total consideration to Vince of $76.5 million in cash from Authentic and 25% membership interest in ABG Vince. Authentic owns the majority stake of 75% membership interest in ABG Vince.
Vince Holding Corp. Announces Closing of Transaction and Entry Into Transformative Strategic Partnership With Authentic Brands Group
May 25, 2023
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