USA: Frederick's Of Hollywood Announces Ownership Change
Frederick's of Hollywood has changed its ownership. Under the deal, the intimate apparel company has been sold to Wilshire Partners, a private investment firm based in Los Angeles. Details of the transaction are not available. "We are very excited to take over the ownership and management of Frederick's of Hollywood. This legendary company is one of the world's great brands and has tremendous potential," stated Yan Haghor, a principal with Wilshire Partners. Wilshire Partners purchased the company from the sponsor of the 1997 buyout that took the company private. The change in ownership, which has been under negotiation for several months, means the company will be solely owned and operated by Wilshire Partners. The change becomes effective immediately. Frederick's has been experiencing modest growth in recent years, and is in the midst of a strong brand revitalization. "This is an important time for the company; with the new owners we will continue our efforts to grow this great brand," stated Linda LoRe, CEO of Frederick's of Hollywood.
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