PE-backed Authentic Brands acquires IP of Drake’s way of life model OVO

• Drake will retain a major possession stake in OVO
• As a part of the transaction, Vince Holding Corp has acquired OVO’s working enterprise and can oversee the model’s design, product improvement, merchandising and retail shops
• Authentic Brands Group boasts a portfolio that features iconic client manufacturers, similar to Reebok, Brooks Brothers, Forever 21 and superstar estates together with David Beckham, Prince, Elvis Presley and Marilyn Monroe

Authentic Brands Group, a New York-based model and leisure platform, has acquired a majority stake within the mental property of October’s Very Own (OVO), a Canadian way of life model co-founded by Drake, for undisclosed phrases.

Authentic is backed by CVC Capital Partners, General Atlantic and Leonard Green & Partners.

Drake will retain a major possession stake in OVO.

“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable,” mentioned Jamie Salter, founder and government chairman of Authentic. “Drake and his team have built something with incredible cultural influence. We see a significant opportunity to take that even further, opening new markets, building new businesses and reaching more people around the world without losing what makes OVO, OVO.”

As a part of the transaction, Vince Holding Corp, a associate inside Authentic’s world community, has acquired OVO’s working enterprise and can oversee the model’s design, product improvement, merchandising and retail shops.

Authentic Brands Group boasts a portfolio that features iconic client manufacturers, similar to Reebok, Brooks Brothers, Forever 21 and superstar estates together with David Beckham, Prince, Elvis Presley and Marilyn Monroe.