NEW YORK — The sale of Mallygirl LLC to Beauty Visions, an affiliate of TPR Holdings, for $10 million has been confirmed by Heritage Equity Partners, which acted for the sellers.
Beauty Visions is an affiliate of TPR Holdings, which wasn’t the only company interested in the brand, fronted by the popular Mally Roncal. It is sold on QVC, at Ulta and online. According to Heritage Equity Partners, the seller/debtor in possession obtained a stalking horse bid for the company, which was operating under Chapter 11 while working to restructure its obligations. The two bidders participated in an auction, increasing the price by 43 percent, to $10 million over the course of eighteen bids, with Beauty Visions ultimately prevailing. The other bidder was not known at presstime.
Commenting on the sale, chief restructuring officer, Michael Lang, said in a statement, “We retained Heritage Equity Partners to ensure all options were explored and feel they did an excellent job assisting with the sale of the company. To bring another buyer to the table, with no contingencies, in less than a month, was quite an accomplishment.”
The acquisition by Beauty Visions will allow the Mallygirl to emerge from bankruptcy properly capitalized and well positioned to continue serving customers and working with its vendors, he added. “The support from both groups has been phenomenal and we are excited for this new chapter,” Lang said.
You May Also Like
The buyers were brought in and advised by Ohana & Co.