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Movie Star changes name to Frederick's of Hollywood Group
29
Jan '08
Movie Star Inc and FOH Holdings Inc the parent company of Frederick's of Hollywood Inc, announced the completion of their merger, a $20 million rights offering and a one-for-two reverse stock split.

Effective January 29, 2008, the combined company will be called Frederick's of Hollywood Group Inc and its common stock will be traded on a post-merger, post-split basis on the American Stock Exchange under the new symbol “FOH.”

Frederick's of Hollywood Group Inc is well positioned to capitalize on significant growth opportunities in the intimate apparel market.

The companies bring together Frederick's of Hollywood's strong merchandising capabilities and multi-channel retail distribution, and Movie Star's well-developed sourcing capabilities.

With the combined company now generating over $200 million in annual sales, the transaction is expected to drive top-line growth, increase gross margins and improve operational efficiencies.

Peter Cole has become Executive Chairman and will lead the company's post-merger operations integration and strategic planning initiatives.

Both companies will retain their seasoned leadership teams, with Linda LoRe, President and CEO of Frederick's, and Melvyn Knigin, President and CEO of Movie Star, continuing to lead their respective businesses. In addition, Thomas Rende, CFO of Movie Star, has become CFO of the combined company.

Linda LoRe, CEO of Frederick's, stated, “We are pleasedand excited to have completed the merger of these two well established companies. The merger and the $20 million rights offering are catalysts for an accelerated growth plan.


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