SPARC Group’s $305 Million Bid to Acquire Brooks Brothers


Paul, Weiss, Rifkind, Wharton & Garrison represented SPARC Group LLC in the transaction.

Global retail operator SPARC Group LLC executed its $305 million stalking-horse bid to acquire Brooks Brothers as part of a court-supervised auction for America’s oldest apparel company. Brooks Brothers filed for chapter 11 bankruptcy protection on July 8 in the District of Delaware.

Under the terms of the asset purchase agreement, submitted July 23 and subject to court approval, SPARC will purchase substantially all of the company’s global business operations as a going concern, and has committed to acquiring at least 125 Brooks Brothers retail locations. SPARC, a full-service retail operator that supports over $2.7 billion in global retail sales annually, is backed by Authentic Brands Group, a global brand development, marketing and entertainment company.

Founded in 1818 by Henry Sands Brooks, Brooks Brothers is the first ready-to-wear fashion emporium in America, offering stylish modern clothing and fresh takes on heritage designs for men, women, and kids.

The Paul, Weiss team representing SPARC included restructuring partners Kelley Cornish (Picture) and Brian Hermann and counsel Brian Bolin; corporate partners Ted Ackerman, Austin Witt and Robert Schumer; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; tax partner Scott Sontag; litigation partner Gregory Laufer and counsel Steven Herzog, Peter Jaffe and Rachel Fiorill; antitrust counsel Yuni Sobeland Marta Kelly; and employee benefits counsel Reuven Falik.

Involved fees earner: Edward Ackerman – Paul Weiss Rifkind Wharton & Garrison; Brian Bolin – Paul Weiss Rifkind Wharton & Garrison; Kelley Cornish – Paul Weiss Rifkind Wharton & Garrison; Reuven Falik – Paul Weiss Rifkind Wharton & Garrison; Rachel Fiorill – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Brian Hermann – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Gregory Laufer – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Robert Schumer – Paul Weiss Rifkind Wharton & Garrison; Yuni Sobel – Paul Weiss Rifkind Wharton & Garrison; Scott Sontag – Paul Weiss Rifkind Wharton & Garrison; Austin Witt – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: SPARC Group;

Author: Ambrogio Visconti