The Wall Street Journal: Brooks Brothers bought by venture backed by Authentic Brands, Simon Property

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A venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. SPG, +2.56% has agreed to buy Brooks Brothers Inc. for $325 million.

The proposed purchase of America’s oldest apparel company, which requires bankruptcy court approval, includes a commitment to keep 125 Brooks Brothers stores open. The retailer has roughly 200 stores in North America.

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