Ted Baker board agrees acquisition

According to the BBC, the board of British menswear brand Ted Baker agreed to sell the company for GBP 221 Millions (~US$267M).

The buyer is Authentic Brands Group (ABG), which recently strengthened its European operation.

Annual sales at Ted Baker rose back to ~GBP428M.

Ted Baker has not been profitable for a while, with losses  reduced to ~10% of sales.