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Sequential Brands Group Announces Acquisition of The Franklin Mint Brand(November 04, 2013)
NEW YORK, Nov. 4, 2013 (GLOBE NEWSWIRE) -- 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: firstname.lastname@example.org.
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
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