Marquee Brands, which is backed by Neuberger Berman Private Equity, has acquired the Ben Sherman brand from Oxford Industries Inc. No financial terms were disclosed. Ropes & Gray LLP advised Marquee Brands on the transaction. UK-based Ben Sherman is a menswear lifestyle brand.
LONDON and NEW YORK, July 20, 2015 /PRNewswire/ — Marquee Brands LLC announced today that it has acquired the Ben Sherman® brand and related intellectual property assets from Oxford Industries, Inc. (NYSE: OXM).
Established in 1963, and synonymous with British youth culture, the Ben Sherman brand and shirt has been a fixture across generations of style movements. Ben Sherman’s colors, cuts and patterns have influenced modern men’s wear by combining British style with international fashion trends.
“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,” said Michael DeVirgilio, president of Marquee Brands. “The current management team under Oxford’s leadership has done a great job building on the core essence of the brand. We’ve received supportive messages from retailers across the globe that share our view of the growth opportunity ahead.”
Ben Sherman is the second investment for Marquee Brands this year following its acquisition of Italian luxury brand Bruno Magli® in February. Both brands represent a growing portfolio of relevant, storied brands with rich history and a global footprint, with Bruno Magli founded in 1936 in Bologna, Italy and Ben Sherman established in 1963 in Brighton, England.
“Ben Sherman remains a uniquely classic British brand with a loyal following across five continents and a smartness that’s ageless. Its heritage, style and authenticity fits perfectly within Marquee’s growing portfolio,” stated Cory M. Baker, chief operating officer of Marquee Brands. “Our plans to market and promote the brand across various lifestyle categories are well underway with new products and expanded retail coming to market as early as first quarter, 2016.”
Marquee Brands is sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman. “At Marquee Brands we remain committed to creating a diversified and global portfolio. We look forward to building on the success of Ben Sherman as we extend the brand by product, geography and channel,” said Zachary Sigel, of Neuberger Berman and director of Marquee Brands.
Marquee Brands was advised by Ropes & Gray LLP.
About Marquee Brands
Marquee Brands is a brand acquisition, licensing and development company. Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world’s leading employee-owned investment managers, Marquee Brands targets high quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in various consumer product segments with the goal of expanding their reach across retail channel, geography and product category while preserving the brand heritage and enhancing the ultimate consumer experience. Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees and manufacturers through engaging, impactful marketing and strategic planning. www.marqueebrands.com
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of June 30, 2015. For more information, please visit our website at www.nb.com.