Sequential Brands Group entered into an exclusive, long-term global license agreement with BBC International LLC for Heelys footwear. BBC is a leading global kids footwear organization with several other licenses including Polo Ralph Lauren, Warner Brothers and Disney.
Earlier this month, Sequential announced that an agreement and plan of merger was entered into with Heelys, Inc., pursuant to which Sequential will acquire all of the outstanding shares of common stock of Heelys for $2.25 per share in cash, or approximately $63.2 million. The license between Sequential and BBC will begin upon closing of the merger.
“BBC International’s successful history and laser focus on branded children’s footwear and the skate market makes them the ideal partner for Sequential and the Heelys brand,” commented Sequential’s CEO, Yehuda Shmidman. “BBC’s Founder, Bobby Campbell, and his team have a strong passion for the Heelys brand, and we look forward to growing the business with them around the world.”
“We are excited about working with the current customers and expanding both the distribution and the new product assortment. We look forward to the partnership with Sequential Brands on the Heelys business and have many ideas on how to build the brand both domestically and internationally,” said BBC Founder and Managing Member, Bobby Campbell.
Sequential Brands Group owns William Rast, People’s Liberation and DVS Action Sports.
BBC International was founded in 1975 by Chairman Robert Campbell. The company is the leading children’s and skate footwear designer and marketer globally. Its children’s licenses include Polo Ralph Lauren, Sam Edelman, Guess, Born, OSIRUS and entertainment brands such as Marvel.
