ASB MAGAZINE: Marquee Brands LLC announced that it has acquired Dakine and all related intellectual property, included in the Marquee Brands portfolio are Body Glove, Ben Sherman and BCBG Marquee Brands has also entered into a long-term license agreement with JR286, a Nike licensee that includes ownership of Vetra sunscreen will become Marquee Brands’ long-term operating partner. Ken Meidell, Dakine’s current CEO, will be joining the Marquee Brands team.
“Dakine is a high-quality brand with a performance integrity and legacy of innovation that has allowed it to develop a fiercely passionate customer following, and which we believe is ripe with untapped growth potential. This brand is truly emblematic of the types of acquisitions we seek to make for the Marquee Brands portfolio,” said Zachary Sigel, Managing Director of Neuberger Berman.
Marquee Brands is a growing brand management company with a portfolio that generates over $1.5 billion of retail equivalent sales. Marquee Brands and JR286 will maintain dedicated teams for the brand in Hood River, Los Angeles, California, and Annecy, France.
“Marquee Brands’ vision is to intensify Dakine’s focus on producing high quality products for its snow, surf and bike customers while also pushing the brand to explore exciting and uncharted waters. The team at JR286 is world class and we’re thrilled to be partnering with them to help realize this brand’s full potential. We are also proud to have a team of brand enthusiasts from Dakine, led by Ken, joining the Marquee family,” said Michael DeVirgilio, President of Marquee Brands.
JR286 Founder, President and CEO Jonathan Hirshberg said, “We are extremely excited to join forces with Marquee Brands as their operating partner in this acquisition. For years, as a passionate sport and outdoor enthusiast, I truly appreciate the Dakine brand, its longstanding heritage on the mountain and in the water, and the success it has achieved by staying true to its core consumer.”
He also added, “We are excited to begin working with the talented Dakine team members around the globe. Their expertise sits right in our wheelhouse of design, engineering, sourcing, and global commercialization. We can’t wait to get started.”
Marquee Brands was advised by Mike Miller of Moore & Van Allen PLLC, Tim Dahms of Financo and Christian Neira, general counsel of Neuberger Berman Private Equity. Houlihan Lokey served as exclusive financial advisor to Dakine. JR286 was advised by team members at Bryan Cave Leighton Paisner LLP, KPMG and PwC. The sale price was not disclosed.
About Marquee Brands
Marquee Brands is a brand acquisition, licensing and development company. Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world’s leading employee-owned investment managers, Marquee Brands targets high quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in various consumer product segments with the goal of expanding their reach across retail channel, geography and product category while preserving the brand heritage and enhancing the ultimate consumer experience. Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees and manufacturers through engaging, impactful marketing and strategic planning. www.marqueebrands.com
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 20 countries, Neuberger Berman’s team is approximately 2,000 professionals, as of September 30, 2018. The company has been amongst the top-ranked firms in the Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more) since 2013. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $315 billion in client assets as of September 30, 2018. For more information, please visit our website at www.nb.com.
About JR286
Headquartered in Southern California since 1989, JR286 is an innovative, global leader in product design, development, sourcing, manufacturing, and distribution of athletic, fitness, and outdoor equipment and accessory products. Through a global operational footprint in North America, Europe, China and Southeast Asia, JR286 is positioned to service its global customer base. The company has a long-standing, exclusive global license with Nike covering hundreds of sports related accessories and equipment. It also operates the wholly-owned Vertra sun care brand.
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