Iconix Brand Group Completes Acquisition of Umbro
NEW YORK, Dec. 3, 2012
NEW YORK, Dec. 3, 2012 /PRNewswire/ --Iconix Brand Group, Inc. ("Iconix" or
the "Company"), today announced that it has completed the acquisition of the
Umbro brand and related intellectual property assets from NIKE, Inc. for $225
million in cash.
Founded in 1924, Umbro is the original global football (soccer) brand. Today,
the brand combines its British heritage with a modern football lifestyle to
create iconic sports apparel and footwear.
The purchase price was funded with the Company's recently announced $600
million securitized financing facility.
"We are thrilled to be adding Umbro to our portfolio of iconic brands" said
Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. "In addition, we
believe our ability to secure financing at an attractive price highlights the
strength of our brands and our business model. Acquisitions remain a key focus
for our Company and with our new securitization in place we believe we have
significant financial flexibility and are well positioned to continue to grow
our business and execute on our acquisition strategy."
Iconix owns 29 consumer brands in the fashion, athletic, electronic, home and
entertainment industries. With this acquisition, the Company's brands will
generate approximately $13 billion in retail sales globally, with over $2.5
billion attributable to the Company's portfolio of athletic brands.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. 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), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC
(R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R),
CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), ED HARDY (R), SHARPER
IMAGE (R) and UMBRO (R). In addition, Iconix owns interests in the ARTFUL
DODGER (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL (R), PEANUTS (R) and TRUTH
OR DARE (R) 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
worldwide. Through its in-house business development, merchandising,
advertising and public relations departments Iconix manages its brands to
drive greater consumer awareness and equity.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995. The statements that are not historical facts contained in this press
release are "forward-looking statements" within the meaning of U.S. federal
securities laws that involve a number of known and unknown risks,
uncertainties and other factors, all of which are difficult or impossible to
predict and many of which are beyond the control of the Company, which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to, uncertainty regarding the results of the Company's
acquisition of additional licenses, continued market acceptance of current
products and the ability to successfully develop and market new products
particularly in light of rapidly changing fashion trends, the impact of supply
and manufacturing constraints or difficulties relating to the Company's
licensees' dependence on foreign manufacturers and suppliers, uncertainties
relating to customer plans and commitments, the ability of licensees to
successfully market and sell branded products, competition, uncertainties
relating to economic conditions in the markets in which the Company operates,
the ability to hire and retain key personnel, the ability to obtain capital if
required, the risks of litigation and regulatory proceedings, the risks of
uncertainty of trademark protection, the uncertainty of marketing and
licensing acquired trademarks and other risks detailed in the Company's
filings with the Securities and Exchange Commission. The words "believe",
"anticipate," "expect", "confident", "will", "project", "provide" "guidance"
and similar expressions identify forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date the statement was made, and the Company
undertakes no obligation to revise or update any forward-looking statements to
reflect events or circumstances that may arise after the date of such
SOURCE Iconix Brand Group, Inc.
Press spacebar to pause and continue. Press esc to stop.