Anchorage Capital to Buy Portion of Pacific Brands
November 19, 2014
Anchorage Capital Partners has entered into a definitive agreement with Pacific Brands (ASX: PBG) to acquire the Footwear and Outerwear businesses of PB's Brand Collective division. Anchorage will also acquire the rights to the Brand Collective name, which will be the trading name of the business going forward. Brand Collective, which currently owns a number of known Australian brands, sells its apparel through department stores and discount store chains, as well as roughly 50 branded retail locations and several company-owned websites. The transaction is expected to close by December 1.