Ben Sherman sold for $40m to US private equity firm
British fashion brand Ben Sherman has been sold to US private equity firm Marquee Brands in a deal worth $40.8m.
Famous for its shirts the brand, which was founded in Brighton in 1963, was previously owned by Oxford Industries and will now join a portfolio of brands including Italian shoe and leather goods maker Bruno Magli.
Michael DeVirgilio, president of Marquee Brands, was quoted in the Guardian as saying: “We are particularly excited about this transaction as Ben Sherman is consistent with our mission to acquire high-quality brands with substantial global growth potential. We’ve received supportive messages from retailers across the globe that share our view of the growth opportunity ahead.”
Marquee Brands is backed by US investment firm Neuberger Berman and was created to acquire fashion brands that have the potential to expand into new products and markets.