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The Guardian - UK

Business

Mark Sweney

Ted Baker agrees takeover by US Reebok owner

Ted Baker Reebok ABG United States Ray Kelvin London

A Ted Baker store in Manhattan. — A Ted Baker store in Manhattan. The firm has been hit by the pandemic, an accounting error and a scandal of ‘forced hugs’ under its founder, Ray Kelvin. Photograph: Andrew Kelly/Reuters

Ted Baker has agreed a cut-price £211m takeover by the US group that owns Reebok and a stake in David Beckham’s clothing and merchandise empire.

The board of the retailer, which has more than 500 shops and concessions around the world, has recommended shareholders approve the buyout by Authentic Brands Group (ABG).

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