Brief: Whp Global Acquires Controlling Stake In Isaac Mizrahi® Fashion Brand From Xcel Brands

XCel Brands

31/05/2022 20:02

May 31 (Reuters) - Xcel Brands Inc  XELB.O :
    * WHP GLOBAL ACQUIRES CONTROLLING STAKE IN ISAAC MIZRAHI®
FASHION
BRAND FROM XCEL BRANDS
    * XCEL BRANDS INC - TRANSACTION, VALUED AT $68 MILLION,
INCLUDES
$46.2 MILLION IN CASH PROCEEDS TO XCEL
    * XCEL BRANDS INC - WILL RETAIN A 30% MINORITY INTEREST IN
ISAAC
MIZRAHI BRAND
    * XCEL BRANDS INC - HAS ENTERED INTO A NEW LICENSE AGREEMENT
TO
DESIGN AND DISTRIBUTE ISAAC MIZRAHI APPAREL IN US AND CANADA
    * XCEL BRANDS INC - XCEL WILL CONTINUE TO MANAGE QVC
BUSINESS WITH
WHP GLOBAL
    * XCEL BRANDS INC - WHP WILL PURCHASE A CONTROLLING 70%
INTEREST
IN FASHION BRAND ISAAC MIZRAHI

Source text for Eikon:  ID:nBw8g7GhDa 
Further company coverage:  XELB.O 

 ((Reuters.Briefs@thomsonreuters.com;))