DivestmentApr 30, 2026, 04:53 PM
XELB Sells Judith Ripka Brand for $2.3M Cash + $0.75M Contingent
AI Summary
Xcel Brands, Inc. announced it has entered into an asset purchase agreement to sell substantially all of the assets of its wholly-owned subsidiary, JR Licensing, LLC, including the "Judith Ripka" brand name and trademarks. The sale was made to Judith Ripka Designs, LLC. The terms of the sale include a $2.3 million cash payment at closing, with potential for an additional $0.75 million in contingent consideration.
Key Highlights
- Xcel Brands, Inc. sold substantially all assets of its JR Licensing subsidiary, including the "Judith Ripka" brand and trademarks.
- The sale was made to Judith Ripka Designs, LLC.
- Xcel Brands received a $2.3 million cash payment at closing.
- The agreement includes up to an additional $0.75 million in contingent consideration.
- The asset purchase agreement was entered into on April 24, 2026.