DLA Piper represented Authentic Brands Group (ABG), a leading brand development and licensing company that has built a wide-ranging portfolio of world-renowned brands, in connection with two recent acquisitions.
The first transaction was ABG’s acquisition of Prince Sports, Inc., which concluded on July 27, 2012, with the approval of Prince’s Plan of Reorganization. And last month, DLA Piper represented ABG in its acquisition of recreational product fixture Sportcraft.
Prince Sports and its affiliates constitute a premier, branded sporting goods company that develops, sources and markets racquet sports equipment, footwear, apparel and accessories for tennis and indoor court sports, including squash and racquetball. Prince Sports enjoys leading market shares across a number of these categories worldwide. On July 27, Judge Kevin J. Carey of the United States Bankruptcy Court for the District of Delaware confirmed the Debtors’ Second Amended Chapter 11 Plan of Reorganization, which marked the culmination of a bankruptcy case that lasted less than 90 days, during which DLA Piper successfully negotiated with Prince Sports, its creditors and other interested parties to preserve the company and the brand as going concerns, and to transfer full ownership of Prince Sports to ABG.
This followed DLA Piper’s representation of ABG in the acquisition of Sportcraft and its Classic Sports line, leading brands in recreational sports and family fun, from its bankruptcy proceeding, which was pending in the United States Bankruptcy Court for the District of New Jersey.
ABG was represented in these transactions by Rick Chesley, Matt Murphy and Jim Irving (Chicago) and Stuart Brown (Wilmington).
