Sequential Brands Group, Inc. (SQBG.OB) announced that it acquired the intellectual property management company that owns two consumer lifestyle brands, Ellen Tracy and Caribbean Joe. The purchase price was comprised of $62.3 million in cash and approximately 2.8 million shares of common stock of Sequential.
The company estimates that Ellen Tracy & Caribbean Joe brands together will generate between $12 million and $14 million in royalty revenues in the next 12 months. On a combined basis with the company's existing brand portfolio, Sequential Brands is projecting forward 12-month royalty revenues of $23 million-$25 million from its six brands.
by RTT Staff Writer
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