Marquee Brands wins bid for Destination Maternity
Marquee Brands will acquire the retailer’s name, website and other operating assets for about 50 million dollars.
Marquee Brands adds one more brand to its portfolio. Destination Maternity has been acquired by Marquee Brands after wining the bid submitted earlier this month. Marquee Brands will get the retailer’s name, website and other operating assets, including registered trademarks Motherhood Maternity, A Pea In The Pod and Destination Maternity for about 50 million dollars.
The maternity fashion company has canceled its bankruptcy auction as Marquee Brands declared the winner. The cancelation was disclosed in a court filing last Monday, stating that no other qualified bids were received by last week’s deadline.
Through this deal, Marquee Brands, current owner of Body Glove, Bruno Magli or Bcbg Max Azria, among others, plans to diversify its womenswear fashion offer and portfolio and boost its online business.
Founded in 1982, Destination Maternity is specialized in maternity clothing and accessories. The group has a store network of 446 stores in the United States, Canada and Puerto Rico, as well as 491 concessions in department stores.
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