Ares Commercial Finance Agents a $150 Million Asset-Based Financing for Fossil Group, Inc.
August 14, 2025
Source: Ares Commercial Finance
NEW YORK – August 14, 2025 – Ares Commercial Finance (“ACF”), serving as Administrative Agent, announced today the closing of an asset-based financing in which Ares Management Credit funds and Great Rock Capital have provided a $150 million senior secured revolving line of credit to Fossil Group, Inc. (“Fossil” or the “Company”), a Richardson, Texas-based designer, manufacturer and distributor of watches and fashion accessories. Proceeds from the new credit facility will be used to support Fossil’s ongoing business transformation and support working capital needs.
“Our goal was to provide a tailored ABL credit facility, in conjunction with a debt exchange, to ensure that Fossil has adequate liquidity to execute their strategic plan,” said Mitch Drucker, Partner, Ares Commercial Finance. “We look forward to supporting the company as they position themselves for future market strength.”
"We are excited to be working with the team at Ares and are grateful for their support and belief in Fossil Group as we continue to make progress against our turnaround efforts," said Randy Greben, Chief Financial Officer, Fossil.
“Fossil is an iconic brand with a strong global market position, and we are thrilled to work with them during this pivotal stage in their business transformation. The credit facility will provide enhanced financial flexibility to support the company’s long-term growth,” added Ian Maccubbin, Managing Director, Ares Commercial Finance.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, kate spade new york, Michael Kors and Tory Burch. For more information on Fossil visit www.fossilgroup.com.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the commercial finance platform of Ares Management Corporation. ACF provides credit facilities up to $500 million to middle market and lower-middle market companies. ACF addresses a wide scope of industries including manufacturing, distribution, wholesale, retail and consumer products and services as well as hospitals, skilled nursing facilities, and all other segments of the healthcare sector. Leveraging the diverse product offering and experience of the Ares platform, ACF collaborates with borrowers to deliver creative, flexible, and customized financing solutions for a variety of financing needs: general refinancing, working capital/growth, acquisitions, restructuring/turnaround situations, debtor-in-possession/exit financing, and special accommodation financing. For more information on ACF visit https://www.arescommercialfinance.com/.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2025, Ares Management Corporation's global platform had over $572 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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