New York – December 18, 2018 – Cooley advised Authentic Brands Group and SB360 Capital Partners on acquiring the intellectual property of Heritage Home Group’s proprietary brands, Thomasville, Broyhill, Drexel and Henredon, through a joint venture. The purchase is the result of a competitive auction overseen by the US Bankruptcy Court for the District of Delaware. Michael Klein led the cross-practice Cooley team advising ABG and SB360 Capital Partners.
“This is a significant step in ABG’s development as the acquisition puts us firmly in the home furnishings business,” said Jamie Salter, chairman and CEO of ABG, in a news release. “We’ve been looking at this sector for several months and the Heritage Home brands deliver against our strategic focus of both growing and diversifying the ABG portfolio. Each of these brands has a unique history and tremendous consumer equity that positions them for global expansion.”
Thomasville, Broyhill, Drexel and Henredon are established brands at key home retailers around the world. This foundation will continue to play a vital role in the brands’ evolution, as ABG will soon announce new operating partners to produce case goods and upholstered furniture for the brands. ABG, which took majority stake of the brands, plans to unlock the portfolio’s potential by engaging with current and untapped audiences through new categories, refreshed content and innovative storytelling.
ABG is a New York City-based brand development, marketing and entertainment company whose brands have a global retail footprint in more than 50,000 points of sale across various channels. An affiliate of the Schottenstein Family of Companies, SB360 Capital Partners is one of North America’s leading consulting, business evaluation, asset acquisition and asset disposition firms for wholesalers, manufacturers and retailers.
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