Cherokee Announces Acquisition of Liz Lange Maternity and Completely Me Brands
Cherokee (NASDAQ: CHKE), a global brand management company, today announced that it has acquired the Liz Lange Maternity® and Completely Me® brands from LLM Management Co., LLC an affiliate of Bluestar Alliance, LLC for an aggregate purchase price of up to $14.0 million, inclusive of performance based earn-outs. The acquisition closed on September 4, 2012.
Credited with revolutionizing modern maternity wear by providing pregnant women stylish, fashion-forward clothing, Liz Lange is one of the most recognized and respected maternity brands sold throughout North America. “We are excited to welcome Liz as the latest addition to our strong and growing family of sought-after style-focused lifestyle brands. In addition to Liz's current distribution, we see an opportunity to leverage our global platform, which spans over 40 countries worldwide,” said Cherokee Group Chief Executive Officer Henry Stupp.
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