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Sign in Sign up for a FREE subscriptionSimon with partners to buy Brooks Brothers for $325m
The 202-year-old New York City–based Brooks Brothers will be purchased for $325 million by a retail venture owned by licensing company Authentic Brands Group and mall owner Simon Property Group.
The retail venture, SPARC Group LLC, has agreed to carry on operating at least 125 Brooks Brothers retail locations. Brooks Brothers, which had filed for bankruptcy last month, has 200 stores in North America.
The transaction is expected to be completed by the end of the month.