Iconix Brand Group, Inc. Announces Closing of Waverly(R) Acquisition
October 06 2008 - 7:00AM
PR Newswire (US)
NEW YORK, Oct. 6 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(NASDAQ:ICON) ("Iconix" or the "Company") today announced that the
Company has completed the acquisition of the Waverly(R) brand. The
purchase price for the transaction was $26 million in cash. Founded
in 1923, Waverly is a premier home fashion and lifestyle brand and
one of the most recognized names in home furnishings. Waverly has
two direct-to-retail agreements, Waverly Home with Target and
Waverly Home Classics with Lowe's. Iconix Brand Group Inc.
(NASDAQ:ICON) owns, licenses and markets a growing portfolio of
consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA
(R), JOE BOXER (R) RAMPAGE (R) MUDD (R), LONDON FOG (R), MOSSIMO
(R) OCEAN PACIFIC(R), DANSKIN (R) ROCA WEAR(R), CANNON (R), ROYAL
VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R) and WAVERLY
(R). 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.
Contact Information: Jaime Sheinheit Director of Strategic
Development Iconix Brand Group 212.730.0030 Joseph Teklits
Integrated Corporate Relations 203.682.8200 DATASOURCE: Iconix
Brand Group, Inc. CONTACT: Jaime Sheinheit, Director of Strategic
Development, Iconix Brand Group, +1-212-730-0030, or Joseph
Teklits, Integrated Corporate Relations, +1-203-682-8200 Web site:
http://iconixbrand.com/
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