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    • Hilco Global and TPG Angelo Gordon launch joint venture to invest in intellectual property and consumer brands in partnership with Bluestar Alliance
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    Hilco Global and TPG Angelo Gordon launch joint venture to invest in intellectual property and consumer brands in partnership with Bluestar Alliance

    Umito Posted on

    NORTHBROOK, Ill. And NEW YORK, October 29, 2024 /PRNewswire/ — Hilco Global (“Hilco”) and TPG Angelo Gordon today announced the formation of a new joint venture (“JV”) that will identify, acquire and finance consumer brands and intellectual property in partnership with Bluestar Alliance, LLC (“Blue Star”).

    Hilco Global and TPG Angelo Gordon
    Hilco Global and TPG Angelo Gordon

    As part of this launch, the JV completed a series of inaugural transactions, including:

    • About one $190 million investment in a securitization transaction established by BR Brand managementLLC, a subsidiary of B. Riley Financial, Inc. (“B. Riley”), financing certain brands managed, licensed and co-owned by Bluestar, including Hurley, Justice and Scotch & Soda, among others.

    • A co-investment with Bluestar to acquire the international luxury streetwear brand Off-White from LVMH. Blue star announcement its first acquisition of Off-White in September 2024.

    • The acquisition of the assets and intellectual property of the bebe and Brookstone brands from bebe stores, inc. (OTC: BABY). Since 2018, bebe stores, inc. owns the intellectual property assets and Bluestar manages the bebe and Brookstone brands.

    The JV will seek to continue to acquire or finance additional consumer brands and intellectual properties, alongside Bluestar.

    Ralph Gindico-founder and COO of Bluestar, and Joseph Gabbayco-founder and CEO of Bluestar, said: “We are delighted to have Hilco Global and TPG Angelo Gordon as new partners across many of our brands. TPG Angelo Gordon brings significant resources and expertise investing in the consumer sector, and Hilco has an impressive track record of successfully operating and investing in brands and other consumer assets globally . We are excited to partner with these blue-chip companies and leverage our combined expertise to identify and invest in future branded transaction opportunities around the world.

    Jeffrey Hecktmanfounder and CEO of Hilco Global, said: “This partnership represents an exciting opportunity for Hilco, allowing us to further build on our successful heritage in the consumer brand and licensing sectors. We look forward to leveraging our extensive network and strategic relationships across the globe. consumer and retail sector as we work with TPG Angelo Gordon and Bluestar to implement our strategy.

    As a recognized asset specialist, Hilco Global has been active in the trademark and brand intellectual property sector for many years, specializing in the acquisition and repositioning of under-leveraged iconic brands, providing strategic solutions , operational and investment to restore them and reintroduce them into profitability. .

    Umito
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