American Eagle buys Todd Snyder for $11 million

American Eagle (AE) announced recently that it bought Todd Snyder for $11 million in cash and in stock.

The Todd Snyder label will continue to operate independently. Founder and creative director Todd Snyder is appointed the executive vice president at American Eagle. Todd Snyder CEO and president Jimmy Olsson joins AE as vice president and will handle the operations of Tailgate and Todd Snyder New York.

The Tailgate brand is vintage sports-inspired and has the only store near the Iowa State college campus. AE plans to open two to three more stores by 2016, with the goal to expand the line by up to 200 stores. Tailgate has more than 150 licenses with colleges and universities, providing apparel in addition to basics such as sweatshirts.

Snyder states that AE items can be integrated into the new Tailgate store concept appropriate for college campuses.

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