True Religion Acquired by ACON Investments

True Religion, the iconic denim brand, has been acquired by ACON Investments and SB360 Capital Partners, a retail investment firm associated with American Eagle's CEO, Jay Schottenstein. The acquisition aims to leverage both firms' resources to enhance True Religion's growth, geographic reach, and product diversification. Despite facing challenges, including two bankruptcies in recent years, True Religion has seen a resurgence, with sales increasing by 20% in 2023 to $280 million. CEO Michael Buckley expressed optimism about the partnership, highlighting plans for digital and international expansion. The deal's financial terms were not disclosed, but industry expectations suggest a mid-single-digit multiple of its earnings. True Religion's comeback has been fueled by collaborations with popular artists and influencers, revitalizing its brand appeal among younger consumers.