Iconix Purchases Official Pillowtex | License Global

Iconix Purchases Official Pillowtex

Iconix Brand Group Inc. has entered into a definitive agreement to purchase Official Pillowtex LLC, a licensing company that owns a large portfolio of home brands including four primary brands—Cannon, Royal Velvet, Fieldcrest, and Charisma—and numerous other home brands, including St. Mary’s and Santa Cruz. The purchase price will be $231 million in cash with contingent payments of up to an additional $15 million in cash based upon the brands surpassing specific revenue targets.