GAIAM brands will be added to the active division of Sequential Brands. It will be distributed to the global and US consumers via Bed Bath & Beyond, Target, Kohl's, Amazon and other retailers and e-tailers.
The acquisition will be funded by a combination of cash and debt financing. Sequential has obtained committed financing from Bank of America Merrill Lynch and GSO Capital Partners LP, an affiliate of Blackstone Group.
Commenting on the acquisition, Eddie Esses, president – active division at Sequential Brands said, “Studies show that over 35 million people in the US practice yoga today, up 76 per cent in the past 4 years, and another 80 million aspire to practice yoga.”
“By acquiring one of the leading brands in yoga, fitness and wellness, the opportunities are vast as we think about gaining market share, adding new distribution and expanding globally,” he added.
The acquisition is expected to close within 60 days, subject to customary closing conditions and approvals.
In tandem with the acquisition, Sequential signed long-term licensing agreements for the brands' core categories, which will become effective upon closing. (MCJ)
Fibre2Fashion News Desk - India
Apparel/Garments | On 25th Jun 2018
Italian high-end men's apparel brand Stone Island tops the list of...
Textiles | On 25th Jun 2018
Italy based Tecnorama’s fully-automatic machinery for dispensing...
'Natural fibres are appreciated for traditional authenticity'
Mag Solvics Pvt. Ltd
ITME 2016 exploited our full strength like never before
'In export markets, the trend in terms of embroidery, is towards matte...
MAG Solvics Private Limited was established in 1991 to design and develop...
Textile Events is one of the largest textile fair in the United Kingdom,...
Oswal Prints Private Limited has been manufacturing and exporting ethnic...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Coating at a fibre level is a practice not usually seen in the...
Divvya and Nidhhi Gambhir
<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...
Label Ritu Kumar
‘Classics will return’ "There are a lot of people wearing western clothes ...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...