Iconix Brand Group, Inc. has completed the acquisition of the brand Danskin. The purchase price for the transaction was $70 million with a contingent payment of an additional $15 million, to be payable in cash or stock, based on the brand exceeding certain revenue and performance targets.
The acquisition was self-funded from the Company's cash reserves. Danskin is anticipated to generate approximately $15 million in royalty revenue in its first twelve months under the Iconix umbrella.
