Apparel & Retail Active Acquirer Report

JUNE 2019 ACTIVE ACQUIRER REPORT | APPAREL & RETAIL

Objective Capital Partners is pleased to present its Apparel and Retail Active Acquirer Report for Q2 2019.

Whether preparing for sale or strategizing for future exit options, knowing the active acquirers and investors within your industry niche is an important factor to achieving your transaction goals. Decades of experience and tenacious advocacy for our clients has allowed us to create and maintain relationships with active acquirers and investors in our industries of focus.

We have included recent acquirer trends, strategic insights including key investment drivers, and transaction information, to help you stay ahead in this dynamic and constantly evolving industry. Within the following summary report, we highlight a larger strategic acquirer, a smaller strategic acquirer, and a private equity firm that have been active in the space. We hope you will find this report to be informative and that it serves as a valuable resource to you in staying abreast of the market. If there is additional content you would find useful for future updates, please donʼt hesitate to call or email us with your suggestions. We look forward to staying in touch with you.

Regards,

Trever Acers* Managing Director 3 636 Nobel Drive, Suite 160 San Diego, CA 92122 [email protected] (858) 663-8662

Additional Consumer Contacts Channing Hamlet* Michael Kim* Managing Director Managing Director [email protected] [email protected] (310) 570-2721 (858) 264-6580

*Registered Representative of BA Securities, LLC.

Consumer Industry Sectors Apparel & Retail | Food & Beverage | Health & Beauty | Pet Products & Services | Recreation

O b j e c t i v e C a p i t a l P a r t n e r s w w w . o b j e c t i v e c p . c o m S a n D i e g o | O r a n g e C o u n t y | S e c u r i t i e s a n d I n v e s t m e n t B a n k i n g S e r v i c e s a r e o f f e r e d t h r o u g h B A S e c u r i t i e s , L L C M e m b e r F I N R A , S I P C . O b j e c t i v e C a p i t a l P a r t n e r s a n d L o s A n g e l e s | B o s t o n | N e w Y o r k B A S e c u r i t i e s , L L C a r e s e p a r a t e a n d u n a f f i l i a t e d e n t i t i e s . ACTIVE ACQUIRERS | APPAREL & RETAIL

Authentic Brands Group is a brand development, marketing, and entertainment company which owns a global portfolio of apparel, retail, and lifestyle brands. Strategic Focus Authentic Brands has focused their acquisitions on companies with a strong international presence. The Company believes it can add significant distribution, marketing, and digital support to the company’s it acquires. Management is looking to split the Company’s domestic and international sales evenly by 2020 and are aggressively pursuing acquisitions to that goal. Recent Acquisitions: Bernard Chaus, Nautica Enterprises, Holdings,

TA Associates TA Associates is a private equity fund with a heavy focus in consumer products and services. The fund takes both minority and majority ownership positions and seeks to hold its portfolio companies for the long term in order to realize organic growth. In Apparel and Retail, TA invests in growing, brand-driven companies. The fund has helped build dozens of recognized brands across a wide variety of consumer and retail segments. Strategic Focus TA Associates rolled up several beauty brands into a global personal care products company, MAV Beauty Products. The fund sought brands with loyal customer bases and niche focuses on natural and cruelty-free products to align with evolving consumer preferences. Though MAV went public, TA Associates maintains an ownership stake in the Company. Recent Acquisitions: Cake Beauty, Onesta Hair Care, Renpure

Walmart Walmart is a global retail company that operates a chain of hypermarkets, discount department stores, and grocery stores. Strategic Focus Walmart has worked to acquire its way into competing with Amazon. Management’s online strategy is to acquire category leaders with specialized expertise that enhance the customer experience. Additionally, by integrating specialty retail brands into its logistics focus from the Jet.com acquisition, the company is able to control the design, manufacturing, and delivery of the retail process. Recent Acquisitions: Bare Necessities, Bonobos, Eloquii Design R e p o r t d a t a s o u r c e d f r o m P i t c h b o o k

O b j e c t i v e C a p i t a l P a r t n e r s w w w . o b j e c t i v e c p . c o m S a n D i e g o | O r a n g e C o u n t y | S e c u r i t i e s a n d I n v e s t m e n t B a n k i n g S e r v i c e s a r e o f f e r e d t h r o u g h B A S e c u r i t i e s , L L C M e m b e r F I N R A , S I P C . O b j e c t i v e C a p i t a l P a r t n e r s a n d L o s A n g e l e s | B o s t o n | N e w Y o r k B A S e c u r i t i e s , L L C a r e s e p a r a t e a n d u n a f f i l i a t e d e n t i t i e s . JUNE 2019