Centric Brands CEO Jason Rabin took majority ownership of Centric through a management-led buyout with Axar Capital Management, the Milken family’s M-Cor Capital, MSP Sports Capital and group president Jarrod Kahn, for undisclosed terms. Centric designs, sources and distributes products for over 100 brands that it licenses or owns, including Calvin Klein, Coach, Gap, Michael Kors, Tommy Hilfiger, UGG and Under Armour. The sellers were Blackstone, Ares Management and HPS Investment Partners, which took control of Centric when it came out of bankruptcy in 2020, according to SGB Media. Rabin, who has run Centric since 2018, will stay on as CEO, but board chair Marc Schneider is stepping down as part of the deal.
