Mercury to buy brand licenses & stock of Funtastic apparel div
June 26, 2009 - Australia
The Directors of Mercury Brands Limited (the Company) are pleased to announce the Company has entered into an agreement to acquire the brand licenses and stock of Australian Horizons an apparel division of Funtastic Limited. The acquisition of these assets is conditional on the Company’s ability to gain appropriate finance to complete the transaction. Mercury Brands has received strong interest to date from potential finance providers and the Directors are confident of securing appropriate finance to complete the transaction by the proposed completion date of August 3 2009.
The terms of the proposed transaction will remain confidential until such time as appropriate financing has been secured by the Company. The acquisition of assets from Funtastic will provide significant revenues and return Mercury Brands to strong profitability.
Mercury Brands is a Global Apparel Company based in Melbourne Australia. Our company is home to a powerful portfolio of leading lifestyle brands and licenses. With over 20 brands across Women’s, Men’s and Children’s wear, we have established a successful reputation with labels including Rochford, No Fear, Purr, French Kitty, Kensie, Chip & Pepper, Crusty Demons, Billiecart, Milly and Nuggets. Current growth into Asia and other markets as well as new brand acquisitions will help propel us into a bold and exciting future.
Funtastic was established in 1994 and is one of Australia's and New Zealand's leading distributors of children's products. Funtastic is a dynamic leader in the licensed consumer goods industry with market dominance across many children’s product categories.