New York City -- Iconix Brand Group said it has signed a definitive agreement to acquire The Sharper Image brand and intellectual property assets for $65.6 million in cash.
Iconix purchased Sharper Image from a joint venture led by Gordon Brothers Group, Hilco Consumer Capital, and Bluestar Alliance. Sharper Image products are sold nationwide at department and specialty stores and direct to consumer through the Sharper Image catalog and e-commerce website, sharperimage.com
"This is an exciting acquisition for Iconix," said Neil Cole, chairman and CEO, Iconix Brand Group. "With the addition of the Sharper Image brand, we continue to demonstrate the diversification of our business model and strength of our company. We always believed that the Iconix platform could be leveraged across numerous industries and this acquisition reinforces that message."
Iconix owns, licenses and markets an array of brands, including Candie’s, London Fogg, Joe Boxer and Fieldcrest to name a few.