Consumer Goods & Retail
Iconix Takes Over Denim Label Lee Cooper
The $72M deal comes just weeks after Iconix picked up denim brand Buffalo David Bitton
Iconix Brand Group Inc. (Nasdaq: ICON), owner of brands such as Ed Hardy, Rocawear and Candie’s, has acquired London denim label Lee Cooper for $72 million in cash.
The New York-based buyer, which licenses clothing brands to retailers and manufacturers, facilitated the transaction through its Luxembourg subsidiary, Iconix Luxembourg Holdings Sarl.
The deal serves as the latest expansion move for Iconix, which agreed to buy the sportswear and denim brand Buffalo David Bitton from Buffalo International ULC for $76.5 million in cash on Feb. 4. Iconix also purchased Umbro, which makes soccer-related products, from Nike Inc. (NYSE: NKE) in November for $225 million.
For more coverage on retail M&A, see “Retail M&A: Time-Tested Brands Sell.”
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