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JMBM & Movie Star merger creates Frederick's of Hollywood
06
Feb '08
Jeffer, Mangels, Butler & Marmaro LLP (JMBM), one of California's foremost full-service law firms, announced that JMBM partner Marilyn Barrett, one of the Firm's leading corporate/taxation attorneys served as lead counsel for her client, Frederick's of Hollywood, and their merger with Movie Star Inc.

The complex transaction included a $20 million rights offering and a one-for-two reverse stock split, resulting in a combined company now called Frederick's of Hollywood Group Inc. The name change, effective January 29, 2008, also means that the company's common stock will be traded on a post-merger, post-split basis on the American Stock Exchange under the new symbol “FOH.”

“This merger positions Frederick's of Hollywood Group Inc. to be an even stronger player in the intimate apparel market than it was before,” said Barrett, whose expertise in corporate and taxation law spans more that 30 years. “With Frederick's of Hollywood's strong merchandising capabilities and multi-channel retail distribution, and Movie Star's well-developed sourcing capabilities, 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, now projected to generate over $200 million in annual sales.


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