DEAL OF THE YEAR – $1 BILLION+ HONOREE:
Authentic Brands Group LLC acquires of Guess?, Inc.
BUYER: AUTHENTIC BRAND GROUP LLC
SELLER: GUESS?, INC.
DEAL TEAM:J.P. Morgan Securities LLC; Jones Day; KPMG LLP; Latham & Watkins LLP; Morris, Nichols, Arsht & Tunnell LLP; O’Melveny & Myers LLP; PricewaterhouseCoopers LLP; Ropes & Gray LLP; Solomon Partners; The Sage Group, LLC; Willkie Farr & Gallagher LLP; Young Conaway Stargatt & Taylor LLP
Guess?, Inc.’s co-founders Maurice and Paul Marciano, Nicolai Marciano, CEO Carlos Alberini, and Authentic Brands Group partnered to take the LA-based fashion company private in a $1.4 billion transaction. The transaction represented the largest apparel licensing deal in history and the second largest apparel transaction in 2025. Guess? is one of the most recognized and iconic fashion brands globally, generating about $6 billion in annual retail-equivalent sales through more than 1,000 stores and a global presence spanning North America, Europe, Asia, Latin America and the Middle East. The transaction brought together Guess? and Authentic, one of the world’s leading brand development and licensing platforms, whose portfolio-wide annual retail sales reached about $38 billion following the acquisition. The Sage Group originated the transaction and served as lead financial advisor, structuring and negotiating every aspect of this highly complex deal. Ropes & Gray represented the group of existing Guess? shareholders (the “Rolling Stockholders”), and certain of their respective trusts, foundations and affiliates, in the strategic partnership with Authentic Brands Group LLC. Under the definitive agreement, Authentic will acquire 51% of substantially all Guess? intellectual property, after which all outstanding common stock of Guess? not already beneficially owned by the Rolling Stockholders will be acquired in an all-cash transaction valuing Guess? at approximately $1.4 billion, including debt.
