Sequential Brands Group Inc. (Los Angeles, Calif.), owner of the William Rast and People’s Liberation fashion brands, has signed a definitive agreement to acquire the DVS brand from DVS Shoe Company Inc. for approximately $8.55 million in cash. Sequential Brands reportedly made the highest offer at a bankruptcy court auction for DVS. The acquisition will extend Sequential Brands' licensing platform into the footwear category.
DVS-branded products are sold worldwide at specialty action sports retailers. "This is the first of many acquisitions for Sequential," said William Sweedler, co-founder of Tengram Capital Partners and chairman of Sequential Brands. The company’s business model is focused on licensing its consumer brands to top retailers, wholesalers, and manufacturers worldwide.
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