Iconix Brand Group Inc. on Monday said it has signed two definitive agreements to acquire Mossimo Inc. and the Mudd trademark.
The purchase price for Mossimo is about $119 million, and for Mudd $88 million, the company said. Mossimo expected to generate between $20 million to $25 million in 2007 royalty revenue, while the Mudd brand is expected to generate between $18 million and $20 million in 2007 royalty income.
Once the deals close – Mudd in April 2006 and Mossimo in July – Iconix will have under its umbrella the Candies, Joe Boxer, Rampage, Mossimo and Mudd brands.
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