London-based fashion brand, Ben Sherman, Ltd. has just been acquired by apparel group Oxford Industries, Inc. for about $146 million dollars in cash, including associated expenses. The deal, which is expected to close in late July, will allow for Ben Sherman’s management team, including, CEO Miles Gray, to remain in position. Ben Sherman, which has grown from a young men’s shirt company in 1963, into an international lifestyle-sportswear brand for men and women, is being purchased from one of Europe’s top venture capital companies, 3i and Enterprise Equity.

J. Hicks Lanier, Chairman and CEO of Oxford Industries, Inc. said about the acquisition, “Ben Sherman is an excellent brand and a well-managed company…we believe there are significant opportunities for growth both overseas and here in the United States for the brand.”

Miles Gray, CEO of Ben Sherman, Ltd. remarked, “I think that by combining forces, we will be able to fulfill our vision for the business as a leading global lifestyle apparel brand.”

Ben Sherman, Ltd. currently distributes throughout the United States, Canada, Europe, Australia, and Asia.

Elissa Weinberg