Advent International acquires majority stake in Salt & Stone

Following the deal, which is expected to close next month, the body care brand’s current senior management will continue leading the company.

Authentic Brands Group acquires majority stake in Guess IP

The brand’s management, including co-founders Maurice and Paul Marciano, retain ownership in and responsibilities for its operations.

The Chinese company, whose portfolio includes Fila and a majority stake in Amer Sports, will be the sneaker brand’s largest shareholder.

Marquee Brands will own a majority interest in the fashion house in a deal that is expected to close in Q2 of this year.

Markus Strobel’s appointment comes days after the beauty giant sold its remaining stake in hair care brand Wella for $750 million.

Chief Executive Officer Brad Weston will transition to an advisory role and the home retailer has initiated a search for his replacement.