“We are pleased and 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,” said LoRe, on behalf of the Frederick's of Hollywood Group, which plans to open approximately 50 Frederick's of Hollywood store locations within the next 36 months. “We will also continue to focus on the expansion and enhancement of Frederick's successful online and catalog businesses.”
Speaking on behalf of Movie Star, Knigin stated, “We are delighted to have completed the merger and appreciate the hard work of everyone at Frederick's and Movie Star who has helped get us to where we are today. We also appreciate our shareholders' trust and patience, and I am confident that we have created a company that will become an even more prominent player in the intimate apparel business.”
Jeffer, Mangels, Butler & Marmaro LLP