15359 Tue, 10/07/2008 - 11:38am
NEW YORK–Iconix Brand Group has completed its acquisition of the Waverly Brand from NexCen Brands.
As revealed in a previous statement, the purchase price was $26 million in cash. The deal adds Waverly to Iconix’s other high-profile textiles brands—Cannon, Charisma, Fieldcrest and Royal Velvet.
The Waverly brand was founded in 1923 and for many years was the property of F. Schumacher & Co. The latter sold Waverly to NexCen in March 2007, which had been exploring a sale of this and its Bill Blass brand since June of this year.