US: Sequential Brands closes Heelys deal
Sequential Brands has closed its acquisition of wheeled footwear brand Heelys.
Sequential acquired all of the outstanding shares of Heelys for US$2.25 per share in cash, or approximately $63m.
The company also announced a global license agreement with BBC International, making BBC the exclusive licensee for Heelys footwear.
Yehuda Shmidman, CEO of Sequential, and Bobby Campbell, BBC's Founder and Managing Member, jointly stated: "We see many opportunities to leverage Heelys' compelling brand heritage and patented products as we re-launch the Heelys brand with our retail partners around the world."
Sequential Brands, owner of the William Rast and People's Liberation brands, has seen its first-quarter losses widen after acquisition costs offset higher revenue. ...
- Speed to market key to Adidas 2020 growth plan
- SuperGroup to adapt sourcing model for speed
- GAFTI gears up for change in apparel auditing
- SOURCING: Production problems weigh on Pakistan
- Fast Retailing ramps up sustainability efforts
- Transparency call for German apparel firms
- Lululemon Athletica on “strong growth” track
- Strike at Adidas and Nike shoe factory in Vietnam
- H&M and Kering trial recycling technology
- Myanmar garments to benefit from export strategy
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Global market review of swimwear - forecasts to 2019