Iconix Brand Group Inc. (ICON)

[GuruTrader]

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "This purchase is consistent with our strategy to opportunistically acquire leading consumer brands that offer long-term growth potential when integrated into our business model. Marc and Seth have built powerful lifestyle brands and we look forward to working with them to continue to build these businesses on a global basis. The Ecko portfolio is a collection of powerful lifestyle brands some of which we believe could lend themselves easily to our direct retail model. In addition, Ecko already has strong licensing partners and a robust European platform, from which we could leverage the rest of our portfolio. Iconix and our shareholders will benefit from this accretive transaction as we are acquiring a strong portfolio of consumer brands at an attractive multiple."