Private equity investment firm, ACON Investments, L.L.C., has acquired a controlling stake in True Religion, a well-known lifestyle, apparel, and accessories brand. The financial terms of the acquisition were not disclosed. True Religion, founded in 2002, has been a prominent player in the global denim and apparel industry for over two decades, with a loyal customer base that includes athletes, musicians, and artists. The brand currently operates through both physical retail locations and a strong ecommerce platform.
ACON’s strategic investment in True Religion demonstrates the firm’s ability to drive growth and value in established brands. The acquisition is supported by ACON’s strategic partner, SB360 Capital Partners, LLC, and aims to accelerate True Religion’s growth, expand its geographic reach, and diversify its product offerings. True Religion will continue to operate independently from its headquarters in Gardena, California, delivering high-quality denim and lifestyle products to consumers worldwide.
The acquisition was financed by Second Avenue Capital Partners LLC, Alpha Wave Global LP, and Sagard Credit Partners. ACON was advised by Pillsbury Winthrop Shaw Pittman LLP and Hogan Lovells, while True Religion was advised by Robert W. Baird & Co. and Akin Gump Strauss Hauer & Feld LLP. True Religion will work closely with ACON and SB360 to capitalize on growth opportunities and continue innovating in the fashion industry.
Founded in 2002, True Religion is known for its unique designs and premium craftsmanship, catering to men, women, and children. With this acquisition, True Religion is poised for further success and expansion in the global market.
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