US intimate apparel firm Frederick's of Hollywood Group has completed the sale of its wholesale division Movie Star to Dolce Vita Intimates.

Frederick's of Hollywood previously announced plans to explore strategic alternatives for its wholesale business last month.

The assets were purchased for an aggregate purchase price of approximately US$4.5m, according to a report on Form 8-K filed by the company with the Securities and Exchange Commission.

"The divestiture of the wholesale division is another major step forward in our strategy to streamline operations and grow our retail business. We are focused on transforming Frederick's of Hollywood into a complete sexy lifestyle brand through domestic and international licensing agreements to support our entrance into new product categories and markets," said Frederick's of Hollywood CEO Thomas Lynch.