Dive Brief:
- Sparc Group, the entity formed by mall REIT Simon Property Group and brand management firm Authentic Brands Group, has struck a deal to acquire Eddie Bauer for an undisclosed amount, the companies said Friday.
- The acquisition is expected to close by June 1, subject to standard closing conditions, including antitrust considerations in the U.S. and Canada, per an emailed press release.
- PSEB Group, which has been running Eddie Bauer and PacSun, the same day announced a leadership shuffle. PacSun President Alfred Chang and PSEB Group Interim CEO Michael Relich will serve as co-chief executive officers, and PacSun Chief Brand Officer Brieane Olson will be promoted to president, per a company press release.
Source: Retaildive
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