Marquee Brands‘ has emerged as the successful bidder to take over Destination Maternity Corp., according to a press release. Marquee will get the retailer’s name, website, and other operating assets for approximately $50 million.
The bid is subject to court approval and will be considered by the United States Bankruptcy Court for the district of Delaware hearing scheduled for Dec. 12.
Through this acquisition, Marquee Brands will diversify its Women’s Fashion division and add scale to its directly managed e-commerce platform.
Marquee Brands currently operates across Women’s Fashion, Men’s Fashion, Active & Outdoor and Home & Food divisions. In addition to Destination Maternity, Marquee will acquire all its trademarks: Motherhood Maternity and A Pea In The Pod.
“Motherhood Maternity and A Pea In The Pod have been embraced by women for decades because of their commitment to innovation and focus on customer needs. We will continue to build on the brands’ legacy in a business model focused on e-commerce, select wholesale partnerships and strategic marketing relationships,” said David Zolot, principal of Neuberger Berman, a sponsor of Marquee Brands. “This transaction is representative of Marquee’s ability to acquire market-leading brands that have become challenged in the current retail environment and evolve their business model to create value for our investors.”