Sequential Brands Sells Martha Stewart, Will Focus on Active
The licensing company is selling its Martha Stewart and Emeril Lagasse brands to Marquee Brands for an estimated $175 million with up to an additional $40 million earnout, and will focus on its core active and fashion brands going forward. The proceeds will be used to pay down some of its $582 million of debt, and SQBG also anticipates SG&A savings from eliminating overhead related to the brands, including the sublease of its current corporate headquarters. Back in 2015, SQBG paid about $353 million in stock and cash for Martha Stewart Omnimedia, which included the Emeril Lagasse culinary brand, a ... Log in to view full article.