I think Max got bought out of the Zegna family business 2 years ago and was looking for something to do. It appears to me that BB was brought in as a strategic partner to share part of the risk and provide a turn-key distribution channel to ensure a certain level of sales. If I am not mistaken, Max got 55%, BB 25% and Ballantyne retaining 20%. On the last bit, I am not sure whether it means Dawson retain a 20% stake or Dawson exited completely and Ballantyne holding onto the stake that was never held by Dawson previously.
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