Sequential Brands Group, Inc. (Nasdaq:SQBG) ("Sequential" or the
"Company") announced today that it has acquired the Franklin Mint
brand, including all of the related intellectual property and
certain other assets.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=21991
Celebrating its 50th Anniversary in 2014, The Franklin Mint
brand is known as the 'gold standard' in the collectible and gift
giving arena with its mission of delivering "quality, integrity and
creativity." Over its long and celebrated history, The Franklin
Mint brand has touched millions of consumers and collectors with a
breadth of products ranging from coins and figurines to die cast
vehicles and games, with sales levels that approached $1 billion a
year at its peak.
Future plans for the brand include a continuation of the brand's
heritage to commemorate the events and milestones of our lives with
timeless keepsake items, and the introduction of additional
offerings through new expanded channels of distribution.
Yehuda Shmidman, Chief Executive Officer of Sequential Brands
Group, commented, "The Franklin Mint is a dream opportunity for
Sequential. Our three-pronged growth strategy of increasing
distribution channels for existing product categories, expansion
into new product categories and international growth fits perfectly
with how we believe The Franklin Mint can best grow. We expect to
announce several new initiatives for the brand over the coming
months as we look to execute on our growth strategy."
Robert H. Book, Chairman of The Franklin Mint, and Managing
Partner of the former ownership group, stated, "I have 100%
confidence in Sequential's ability to maximize the full value of
The Franklin Mint, a truly iconic American brand. Selling the brand
was not an easy decision for us, but knowing that it is in 'the
best hands', and well positioned to flourish, got us to the finish
line."
Mr. Shmidman added, "This acquisition is in line with our
corporate strategy of diversification across multiple consumer
verticals, currently covering fashion, outdoor lifestyle, action
sports and now collectibles."
Simultaneous with the acquisition, the Company signed a license
agreement with the prior ownership group to fulfill the legacy
Presidential Coin continuity program offered by The Franklin
Mint.
The Franklin Mint is the fifth brand to be added to Sequential's
portfolio in 2013 and the eighth in total. Sequential's brand
portfolio generates approximately $1 billion in global retail sales
annually.
About Sequential Brands Group,
Inc.
Sequential Brands Group, Inc. (Nasdaq:SQBG) owns, promotes,
markets, and licenses a portfolio of consumer brands that presently
include The Franklin Mint®, William Rast®, People's Liberation®,
DVS®, Heelys®, Caribbean Joe®, Ellen Tracy® and Revo®. Sequential
seeks to ensure that its brands continue to thrive and grow by
employing strong brand management, design and marketing teams.
Sequential has licensed and intends to license its brands in a
variety of consumer categories to retailers, wholesalers and
distributors in the United States and in certain international
territories. For more information, please visit Sequential's
corporate website at: www.sequentialbrandsgroup.com. To inquire
about licensing opportunities, please email:
newbusiness@sbg-ny.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release and oral statements
made from time to time by representatives of the Company are
forward-looking statements ("forward-looking statements") that
involve risks and uncertainties. For this purpose, any statements
contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
When used in this press release and in documents referenced herein,
forward-looking statements include, without limitation, statements
regarding our expectations, beliefs or intentions that are
signified by terminology such as "subject to," "believes,"
"anticipates," "plans," "expects," "intends," "estimates," "may,"
"will," "should," "can," the negatives thereof, variations thereon
and similar expressions. Such forward-looking statements reflect
the Company's current views with respect to future events, based on
what the Company believes are reasonable assumptions; however, such
statements are subject to certain risks, uncertainties and other
factors. Our actual results may differ materially from those
anticipated in any forward-looking statements due to known and
unknown risks, uncertainties and other factors. The section
entitled "Risk Factors" set forth in Item 1A of Part I of our
Annual Report on Form 10-K for the year ended December 31, 2012, in
Item 1A of Part II of our Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2013 and in similar discussions in
our other Securities and Exchange Commission filings, discuss some
of the important risks, uncertainties and other factors that may
affect our business, results of operations and financial condition.
The Company's stockholders are urged to consider such risks,
uncertainties and factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. Forward-looking
statements are not, and should not be relied upon as, a guarantee
of future performance or results, nor will they necessarily prove
to be accurate indications of the times at or by which any such
performance or results will be achieved. As a result, actual
outcomes and results may differ materially from those expressed in
forward-looking statements. The Company is under no obligation to,
and expressly disclaims any such obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events or otherwise.
The photo is also available at Newscom, www.newscom.com, and via
AP PhotoExpress.
CONTACT: For all inquiries please contact:
Gary Klein, CFO
Sequential Brands Group
gklein@sbg-ny.com
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