Iconix Brand Group, a brand management company engaged in licensing, marketing and providing trend direction for a portfolio of consumer and entertainment brands, said Monday that it has acquired the remaining 50% of Iconix China from its joint venture partner Novel Fashion Brands Limited for $56.4 million in cash and stock.
The consideration was made up of $40.4 million in cash and $16 million in the company’s common stock.
The transaction provides ICON with full control and ownership of Iconix China, which owns equity stakes in two joint ventures with the recently public Shanghai La Chapelle that can be put to Shanghai La Chapelle for cash; publicly traded shares in China Outfitters; equity stakes in an additional six retail ventures of which four have plans to go public in the next 5 years; control over a portfolio of 15 unplaced brands; and an office and staff in Hong Kong dedicated to Iconix China. Shares closed at $33.75, with a 52-week range of $32.69 – $44.81.