As reported in the Australian Financial Review, the transaction represents a significant step forward in the implementation of Accent’s strategy to grow its leadership position in the lifestyle and youth apparel market in Australia and New Zealand.
Glue Store is a leading Australian youth apparel, shoe and accessory retailer. As part of the acquisition Accent Group will also add to its existing portfolio of exclusive owned vertical brands (acquiring Nude Lucy, Beyond Her, Lulu & Rose and Article One), and it is also intended that Accent Group will acquire the distribution rights for a strong portfolio of global brands (comprising Superga, Ellesse, le coq sportif, Kappa, K-Way, Sebago and Napapijri).
The ABL team advising Accent Group included Corporate and M&A partner Gavin Hammerschlag and lawyer Noah Lipshut.
Gavin congratulated Accent Group’s board and management on the acquisition: “We are extremely pleased to have advised our long-standing client, Accent Group, on this latest, strategically important acquisition. Accent Group is one of Australia’s best retail businesses, and we look forward to continuing to support their expansion”.