**True Capital Acquires Bench and Nicce Owner Apparel Brands**.
**NEW YORK, United States** – True Capital Management LLC, a private equity firm focused on investing in the branded consumer sector, has acquired the owner of popular streetwear brands Bench and Nicce, Apparel Brands International Holdings Limited (ABI). The transaction closed on March 25, 2023, and financial terms were not disclosed..
ABI is a leading global lifestyle retailer and wholesaler with a portfolio of brands that cater to the youth and young adult demographics. The company operates over 1,200 stores in over 20 countries, with a strong presence in Asia, the Middle East, and North America..
Bench is a well-known casual wear brand founded in the Philippines in 1987. It has since expanded globally and is known for its stylish and affordable clothing, footwear, and accessories. Nicce is a London-based streetwear brand founded in 1999. It has gained a strong following among young people for its unique and edgy designs..
True Capital’s investment in ABI aligns with its strategy of acquiring and building iconic consumer brands. The firm has a proven track record of successfully investing in and growing businesses in the apparel, accessories, and lifestyle sectors..
**True Capital’s Investment Strategy**.
True Capital’s investment strategy is centered around three key pillars:.
1. **Brand building:** Identifying and acquiring brands with strong consumer appeal and growth potential..
2. **Operational excellence:** Enhancing operational efficiency and implementing best practices to improve profitability..
3. **Strategic partnerships:** Leveraging its network and expertise to foster strategic partnerships that drive growth..
**Opportunities for Growth**.
True Capital sees numerous opportunities for growth within ABI’s portfolio of brands. The firm plans to expand the brands’ presence in existing markets and enter new geographies. Additionally, True Capital will focus on enhancing ABI’s e-commerce platform and developing new product categories to meet the evolving needs of consumers..
**Executive Leadership**.
Following the acquisition, Mike Jeffries, the founder of True Capital, will become Chairman of ABI. Bench and Nicce will continue to be led by their existing management teams, with Bruce Rockowitz remaining as Chief Executive Officer of ABI..
**Transaction Advisors**.
True Capital was advised by Kirkland & Ellis LLP and PJT Partners. ABI was advised by Latham & Watkins LLP and Houlihan Lokey..
**About True Capital Management LLC**.
True Capital Management LLC is a private equity firm based in New York City. The firm invests in branded consumer businesses with a focus on the apparel, accessories, and lifestyle sectors. True Capital has a proven track record of successfully investing in and growing iconic brands, including Joe’s Jeans, Vince, and Aéropostale..
**About Apparel Brands International Holdings Limited (ABI)**.
Apparel Brands International Holdings Limited (ABI) is a leading global lifestyle retailer and wholesaler. ABI’s portfolio of brands includes Bench, Nicce, and other popular youth and young adult-oriented brands. The company operates over 1,200 stores in over 20 countries, with a strong presence in Asia, the Middle East, and North America..
