The new investors join Gordon Brothers Group and Hilco Global, which acquired the IP and other assets of the Polaroid Corporation in 2009 following the company’s bankruptcy filing.
“We are very excited to partner with these new investors to take Polaroid to the next level,” says Kenneth S. Frieze, chief executive officer, Gordon Brothers Group. “We are proud of what we have accomplished and believe this new investment will position us to continue our work with Polaroid and contribute to other future collaborative brand projects in this space.”
The transaction marks the next phase of the company’s evolution after a five-year effort to re-establish Polaroid in the consumer electronics market through licensing.
Polaroid currently has more than 50 licensees across the globe for products including cameras, tablets and TVs.
We are very excited about this deal
Polaroid’s management team and headquarters will remain in Minnetonka, Minn. The company also maintains offices in New York City and Hong Kong, and plans to expand into other international offices.
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