Marquee’s recently purchased brands will be leveraged to kick start the company’s home and food licensing division. The firm’s new brands and division had to its current portfolio which earns more than $2.3 billion in annual retail equivalent sales.
This transformative acquisition allows Marquee Brands to enter the home, food, and media sectors," says Zachary Sigel, managing director, Neuberger Berman, Marquee’s parent company. "The addition of new partners, customers, and capabilities will further diversify Marquee Brands, improving its position as a preeminent global brand owner.”
Sequential’s decision to sell the brands is spurred on by a renewed effort to focus on the company’s core active and fashion brands. The licensing firm believes that the transaction will help it better streamline business and provide greater flexibility.
“This transaction gives us financial and operating flexibility and streamlines our business around core brands with the highest margins and attractive growth prospects,” William Sweedler, chairman, Sequential Brands Group. “I believe this new focus will generate greater shareholder value.”
Sequential bought the Martha Stewart and Emeril Lagasse brands four years ago for an estimated $355 million. Lagasse’s brand was acquired by Martha Stewart Living Omnimedia seven years before the Sequential deal.