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00:03Authentic Brands Group plans to attempt an initial public offering soon,
00:06Chief Executive Jamie Salter said Tuesday at the Reuters Momentum AI event in New York.
00:11Salter said the company is ahead of its five-year goal of $100 billion in sales and could exceed
00:17$50 billion by year-end if pending deals close. The company, which owns Guestockers and Brooks
00:22Brothers, expects about $38 billion in sales this year without acquisitions.
00:28Salter said artificial intelligence is helping accelerate deal execution more efficiently.
00:32The company is focusing its mergers and acquisition strategy on kids' entertainment brands and
00:38hospitality. Authentic Brands previously filed to go public twice but was bought out both times.
00:43Salter did not provide a timeline for when the company plans to file its initial public offering
00:47with the SEC. He plans to move to a different role after the IPO. For all things money, visit Benzinga
00:54.com.
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