DVS owner Sequential Brands Group announced this morning that it has an agreement to acquire Galaxy Brand Holdings, which owns the fitness brand Avia, basketball brand AND1, outdoor brand Nevados, and home goods brand Linens ‘N Things.
Sequential has remade itself into a licensing company, and if the deal closes will have 12 global brands in its portfolio that generate about $2 billion in annual retail sales.
Sequential is paying $100 million in cash and 13.75 million shares of common stock to buy Galaxy.
The deal is expected to close at the end of 2014.
In addition to DVS, Sequential owns William Rast, People’s Liberation, Heelys, Caribbean Joe, Ellen Tracy, Revo and The Franklin Mint.
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