Category: general

Bang & Olufsen has completed the previously announced transaction with Harman International Industries, Incorporated and its affiliates.

The automotive assets are transferred and the brand Bang & Olufsen is licensed to HARMAN.

Bang & Olufsen expects to receive approximately DKK 1,130 million in net proceeds from the transaction after tax and transaction costs including DKK 93.1 million of cash placed in escrow for 15 months to secure any warranty related claims.

Going forward, Bang & Olufsen is guaranteed an annual minimum license fee of DKK 12.7 million for a 20 year period starting 2017/18. The future variable license fee will be subject to the corporate tax rate at the time of their respective receipt.

The Chinses company Skyworth bought the German TV manufacturer Metz as reported here.

Metz went into insolvency earlier this year. It was one of the last German TV manufacturers. Most others went under or switched to licensing models.

Skyworth wants to continue manufacturing TVs in Germany. But mostly it will use Metz and its distribution network to open the European market for its Skyworth products.

Frederick’s of Hollywood Inc. geht an Authentic Brands Group Inc.

Der Kaufpreis beträgt $22,5 Million.

Authentic Brands Group erwirbt die immateriellen Vermögenswerte, Teile des Warenbestands und das Online-Geschäft. Das Unternehmen wird Lizenzen an Einzelhändler und Hersteller vergeben.

Frederick’s, gegründet 1946, schloss im April alle Läden bevor es Insolvenz anmeldete.Ehemals die führende Marke für Wäsche machte Frederick’s im letzten Jahr nur noch weniger als 1% des Marktumsatzes von $13 Milliarden. Victoria’s Secret realisierte 41,3%.

Laut Bericht hat Gulf Oil International U.K. Ltd. eine Markenlizenz für Kanada vergeben.

Der Lizenznehmer ist XTR Energy Co. Ltd.

Die Marke Gulf für Treibstoff und Tankstellen war seit 1985 vom Markt verschwunden, nachdem Petro-Canada deren Geschäfte für $886 Millionen übernommen hatte.

Die erste Gulf Station ist bereits eröffnet. Zwanzig weiter sollen dieses Jahr folgen, weitere 100 binnen fünf Jahren.

Frederick’s of Hollywood Inc. goes to Authentic Brands Group Inc.

The purchase price is $22.5 million.

Authentic Brands Group is buying Frederick’s intellectual property, some inventory and its e-commerce business. The company will license the intellectual property to retailers and manufacturers.

Frederick’s, founded in 1946, closed all of its retail stores in April ahead of its bankruptcy filing April 19 with the offer from Authentic in place and $11 million in bankruptcy financing from its lender, Salus Capital Partners.

Frederick’s at one point was the leading brand in lingerie. Last year it accounted for less than 1% of the $13 billion market. Victoria’s Secret made 41.3% of that.