Private equity firm Acon Investments has acquired the controlling stake in apparel brand True Religion for an undisclosed sum.
Founded in 2002, True Religion offers premium denim, sportswear and other apparel for men, women and kids. The company operates an e-commerce platform, more than 51 branded retail locations and a network of wholesale partners.
The transaction is supported by Acon’s strategic partner – SB360 Capital Partners – and several other partners.
The investors aim to use their resources and expertise to accelerate True Religion’s future growth, broaden its geographic reach and diversify its product offerings.
Following the deal, True Religion will continue to operate independently, with its headquarters remaining in Gardena, California. The brand will also explore opportunities for collaboration and innovation within Acon’s and SB360’s portfolios.
“Our partnership with Acon and SB360 represents an exciting new chapter for True Religion,” said Michael Buckley, the company’s CEO.
“With their expertise and resources, we are poised to enhance our digital and retail capabilities, accelerate our international growth and continue innovating our apparel offering,” Buckley added.
Based in Washington, DC, Acon Investments has managed $7.2 billion in assets since inception and has a 29-year track record.
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