James Salter of Authentic Brands Group Names Perry Wolfman President and Chief Operation Officer

NEW YORK and LOS ANGELES and TORONTO, June 24 /PRNewswire/ -- Authentic Brands Group, LLC ("Authentic Brands Group" or "ABG") announced today that Perry Wolfman has been named President and Chief Operating Officer of Authentic Brands Group effective June 15, 2010.  The announcement was made by James Salter, Chairman and Chief Executive Officer of ABG.

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"I am proud to have Perry on board as our new President and COO. His experience and leadership in branding and at the retail and international level is a tremendous asset to ABG," said Mr. Salter.

Mr. Wolfman served as founder, CEO and President of Consolidated Apparel Group, a leading sportswear company taking it from a start-up to $100 million in revenue at its peak, successfully selling the company to the Hartmarx Corporation. He brings to ABG strong leadership skills with over twenty-five years of experience in product development, merchandising, global sourcing, marketing, licensing and business operations.

As President and COO, Wolfman will be responsible for developing the strategic plans and operations for ABG and its associated brands. He will work closely with sales and marketing in launching directives for new product introductions as well as overseeing global licensing efforts.  

"I am thrilled to be at the helm of Authentic Brands Group," said Wolfman, "From the great team at ABG to our partners at Leonard Green & Partners and Knight's Bridge Capital, our collective experience will enable us to build a world class portfolio of brands."

About Authentic Brands Group LLC

Authentic Brands Group is an intellectual property corporation with a mandate to acquire, manage and build long-term value in prominent consumer brands. ABG operates out of New York with offices in Toronto and Los Angeles. ABG's mandate is to acquire a global portfolio of world renowned brands and to enhance brand equity through partnering with best-in-class brand licensees. ABG will look to actively acquire and to manage iconic consumer brands in the apparel, sporting goods, action sports, home, celebrity, entertainment and consumer electronics segments. www.authenticbrandsgroup.com

About Leonard Green & Partners, L.P.

Leonard Green & Partners is one of the nation's leading private equity firms with over $9 billion in equity commitments under management. Leonard Green & Partners, L.P. was founded in 1989 and has invested in 51 companies with an aggregate value in excess of $42 billion. The firm's investments are focused primarily on North American companies in a range of industries including retail, consumer products, distribution, media, business services and healthcare. Significant investments include Whole Foods Market, Neiman Marcus Group, Petco Animal Supplies, The Sports Authority, The Container Store, Tourneau, David's Bridal, Jetro Cash and Carry and The Tire Rack. www.leonardgreen.com

About Counsel Corporation & Knight's Bridge Capital Partners Inc.

Counsel Corporation (TSX: CXS) is a private equity investor and alternative asset manager that actively partners with businesses to achieve shared success and to unlock value through leveraging its relationships, access to capital and strategic market experience. Knight's Bridge Capital Partners Inc. is a wholly-owned subsidiary of Counsel. www.counselcorp.com and www.kbcpartners.com

Authentic Brands Group

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address each company's expectations, should be considered as forward looking statements. Such statements are based on knowledge of the environment in which each company currently operates, but because of the factors listed herein, as well as other factors beyond such company's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks.

SOURCE Authentic Brands Group, LLC