Iconix Brand Group Announces Definitive Agreement to Acquire Sharper Image Brand From Gordon Brothers Group, Hilco Consumer Capital and Bluestar Alliance

Oct 27, 2011, 11:13 ET from Gordon Brothers Group

NEW YORK, Oct. 27, 2011 /PRNewswire/ -- Iconix Brand Group, Inc. announced today that it has signed a definitive agreement to acquire The Sharper Image® brand and intellectual property assets from Sharper Image Acquisition, LLC for approximately $65.6 million in cash from a joint venture led by Hilco Consumer Capital ("HCC"), Gordon Brothers Group ("GBG") and Bluestar Alliance ("BA").  

Sharper Image is a respected brand in the consumer electronics industry with over 85% brand recognition, and is best known for its innovative products.  Sharper Image products are sold nationwide at better department and specialty stores and direct to consumer through the Sharper Image catalog and e-commerce website, www.sharperimage.com.  

"This is an exciting acquisition for Iconix," commented Neil Cole, Chairman and CEO, Iconix Brand Group. "With the addition of the Sharper Image brand, we continue to demonstrate the diversification of our business model and strength of our Company. We always believed that the Iconix platform could be leveraged across numerous industries and this acquisition reinforces that message."

Gary Talarico, President and CEO of Gordon Brothers Group, Jeffrey B. Hecktman, Chairman and CEO of Hilco Trading, LLC, the parent of HCC, and Joey Gabbay, CEO of Bluestar, jointly stated, "We are pleased to transition the stewardship of the Sharper Image brand to Iconix, one of the premier global brand managers in the industry."

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), LONDON FOG (R), MOSSIMO (R) OCEAN PACIFIC (R), DANSKIN (R) ROCA WEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R), ZOO YORK (R) and WAVERLY (R). In addition, Iconix owns an interest in the ARTFUL DODGER (R), ED HARDY (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL(TM) and PEANUTS (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.

About Hilco Consumer Capital
Hilco Consumer Capital (www.hilcocc.com) is a private equity firm that makes strategic investments in consumer lifestyle brands through acquisitions of North American manufacturers, wholesalers, intellectual property and retailers. HCC investments range from $25 million to $250 million. Current portfolio brands and companies include Polaroid, Linens 'N Things, Caribbean Joe®, Ellen Tracy and Halston.® HCC is a unit of Hilco Trading, LLC, a Chicago-based, international provider of diversified financial and operational services, including business asset valuations, asset acquisition and disposition services, M&A services and retail consulting.

About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt and equity financing, and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion worth of transactions and appraisals annually.

About Bluestar Alliance, LLC:.

Bluestar Alliance, LLC (www.bluestarbrands.com) established in January 2007 by Joey Gabbay and Ralph Gindi owns, manages and markets a portfolio of consumer brands including Liz Lange Maternity ® English Laundry ®, Hot Kiss ®, First Kiss ®, Harve Benard ®, Kensie ®, Kensie girl ®, mac&jac ® & Completely Me ®. Bluestar licenses its brands to a network of best in class manufacturers and retailers both in the U.S. and around the world. Bluestar, through its in-house advertising, promotion and public relations agency, markets its brands to build long term value and enhance consumer experience.

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 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 SEC filings. 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.

SOURCE Gordon Brothers Group



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