Authentic Brands Group LLC, headed by the former chief executive officer of Hilco Consumer Capital, raised $250 million to acquire consumer brands.
James Salter, the CEO and chairman of Authentic Brands, worked with an affiliate of Leonard Green & Partners LP and Knight’s Bridge Capital Partners Inc. to secure the funds, the groups said today in a statement.
Salter left Hilco Consumer Capital in January. At Hilco, he oversaw the acquisition of brands such as Linens ‘n Things and Polaroid in partnership with Gordon Brothers Group. His new venture will seek companies in the $100 million to $300 million valuation range, he said today in a telephone interview.
“We’re going after much bigger assets than we’ve gone after in the past,” Salter said.