Iconic Australian brand JAG has a new home, following its acquisition by Sydney-based Apparel Group.
Apparel Group has acquired the brand from Fusion Retail Brands, subject to the final completion of due diligence.
Apparel Group operates fashion retailers Saba and Sportscraft, as well as designer brand Willow.
Apparel Group chief executive Daniel Bracken said JAG will benefit from more than 50 years of supply chain experience.
“We are thrilled to be adding JAG to our portfolio of iconic Australian brands. It is the perfect fit for the Apparel Group. We will use our significant experience and infrastructure to build the JAG brand into a key retail destination."
The deal was spearheaded by Marshall Investments, which handles all investment activities on behalf of Apparel Group.
Marshall Investments managing director David Marshall said the deal will benefit both parties.
“We’re delighted with the JAG acquisition and feel it will add significantly to the strength of the Apparel Group portfolio of brands.”
Founded in 1972, JAG has 27 stand alone stores and is distributed across 68 Myer stores and a number of independent wholesale accounts across Australia.
JAG has been part of Fusion Retail Brands Group since 2011.