 Iconix Brand Group, Inc. announced that it has completed the acquisition of a 51% controlling interest in the Ecko portfolio of brands through a newly formed joint venture company, IP Holdings Unltd LLC. The Ecko portfolio includes Ecko Unlimited, Marc Ecko, the Rhino logo, and Zoo York, which in the aggregate represent over $1 billion of annual global retail sales.
For this acquisition, Iconix paid $63.5 million in cash, and the joint venture obtained $90 million of financing. Iconix's effective purchase price for it's 51% interest in the joint venture was approximately $109 million.
Iconix Brand Group Inc. owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S, BONGO, BADGLEY MISCHKA, JOE BOXER RAMPAGE MUDD, LONDON FOG, MOSSIMO OCEAN PACIFIC, DANSKIN ROCA WEAR, CANNON , ROYAL VELVET, FIELDCREST , CHARISMA, STARTER and WAVERLY. In addition, Iconix owns an interest in the ARTFUL DODGER and ED HARDY brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and around the world. Iconix, through its in-house advertising, promotion and public relations agency, markets its brands to continually drive greater consumer awareness and equity. |