Sequential Brands Group, Inc. (OTC:SQBG) ("Sequential" or the
"Company") announced today that it has acquired the REVO brand,
including all of the related intellectual property and certain
other assets, from Oakley Inc. ("Oakley"), a company belonging to
the Luxottica Group, for a gross purchase price of approximately
$20 million in cash.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=20240
In connection with the acquisition, the Company signed a
long-term license agreement with B. Robinson, a leading eyewear
company, to manufacture and distribute REVO sunglasses and related
products.
In addition, Sequential signed a long-term partnership agreement
with Sunglass Hut to continue distribution of REVO at Sunglass Hut
stores globally.
"We are thrilled to add REVO to Sequential's brand portfolio,"
commented Yehuda Shmidman, Chief Executive Officer of Sequential
Brands Group. "Together with our new licensee, B. Robinson, we
are committed to preserving the DNA of the REVO brand in its core
category of eyewear. We are also excited to introduce new
product categories that we believe are a perfect fit for the REVO
brand, and we will be pursuing new partnerships to execute on this
vision. As we combine this product strategy with our
soon-to-be-announced marketing strategy, we are confident REVO will
resonate with both existing and new consumers."
"REVO is a powerful brand and has tremendous potential to expand
its customer base," stated Cliff Robinson, President of B.
Robinson. "We are excited to be partnering with Sequential Brands
Group to help further develop the core eyewear technology and
expand the business."
Founded in 1985, REVO, quickly became a global performance
eyewear brand known as the leader in polarized lens
technology. REVO sunglasses were first created by utilizing
lens technology that NASA developed as solar protection for
satellites. Nearly three decades later, REVO continues to
build on its rich tradition of technology and innovation by
offering the clearest and most advanced high-contrast polarized
sunglasses available. Designed for the active consumer, the
REVO eyewear collection is available at Sunglass Hut stores and
other premium retail locations worldwide.
REVO is the fourth brand to be added to Sequential's portfolio
in 2013 and the seventh overall.
About Sequential Brands Group,
Inc.
Sequential Brands Group, Inc. (OTC:SQBG) owns, promotes,
markets, and licenses a portfolio of consumer brands that presently
includes REVO®, William Rast®, People's Liberation®,
DVS® Action Sports, Heelys®, Caribbean
Joe® and Ellen Tracy®. Sequential seeks to ensure that
its brands continue to thrive and grow by employing strong brand
management, design and marketing teams. Sequential has licensed and
intends to license its brands in a variety of consumer categories
to retailers, wholesalers and distributors in the United
States and in certain international territories. For more
information, please visit Sequential's corporate website
at: www.sequentialbrandsgroup.com. To inquire about
licensing opportunities, please email: newbusiness@sbg-ny.com
About B. Robinson
B. Robinson Optical, Inc. has been a leader in the
eyewear industry for over 85 years. Known for superior quality
as well as unique design, B. Robinson offers many licensed
collections including Cole Haan, Cynthia Rowley, Isaac Mizrahi,
Ivanka Trump, Izod and London Fog. The company's luxury
division has licenses that include Judith Leiber Eyewear,
Betsey Johnson Eyewear, Kata Eyewear and a partnership for the
distribution of David Yurman Eyewear.
Forward-Looking Statements
Certain statements in this press release and oral statements
made from time to time by representatives of the Company are
forward-looking statements ("forward-looking statements") that
involve risks and uncertainties. For this purpose, any statements
contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
When used in this press release and in documents referenced herein,
forward-looking statements include, without limitation, statements
regarding our expectations, beliefs or intentions that are
signified by terminology such as "subject to," "believes,"
"anticipates," "plans," "expects," "intends," "estimates," "may,"
"will," "should," "can," the negatives thereof, variations thereon
and similar expressions. Such forward-looking statements reflect
the Company's current views with respect to future events, based on
what the Company believes are reasonable assumptions; however, such
statements are subject to certain risks, uncertainties and other
factors. Our actual results may differ materially from those
anticipated in any forward-looking statements due to known and
unknown risks, uncertainties and other factors. The section
entitled "Risk Factors" set forth in Item 1A of Part I of our
Annual Report on Form 10-K for the year ended December 31, 2012, in
Item 1A of Part II of our Quarterly Report on Form 10-Q for the
quarterly period ended March 31, 2013 and in similar discussions in
our other Securities and Exchange Commission filings, discuss some
of the important risks, uncertainties and other factors that may
affect our business, results of operations and financial condition.
The Company's stockholders are urged to consider such risks,
uncertainties and factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. Forward-looking
statements are not, and should not be relied upon as, a guarantee
of future performance or results, nor will they necessarily prove
to be accurate indications of the times at or by which any such
performance or results will be achieved. As a result, actual
outcomes and results may differ materially from those expressed in
forward-looking statements. The Company is under no obligation to,
and expressly disclaims any such obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events or otherwise.
The photo is also available at Newscom, www.newscom.com, and via
AP PhotoExpress.
CONTACT: Gary Klein, CFO
Sequential Brands Group
gklein@sbg-ny.com
646-564-2574
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