Boohoo’s Nasty Gal IP acquisition finalised by US court
Manchester-based fast fashion retailer Boohoo.com has confirmed it has received court approval for the acquisition of the intellectual property assets of bankrupt US company Nasty Gal for $20m.
The transaction is expected to be complete on February 28.
The transaction has been governed by a US Bankruptcy Court approved bidding process buy no alternative acceptable, qualifying bids have been received and no auction will take place.
A statement released on behalf of joint Boohoo chief executives said:”We are delighted to have been successful in our bid to acquire Nasty Gal.
“It represents an exciting opportunity to accelerate our international offering and inspire an ever-growing range of young customers in the US and around the world.”
The corporate and IP team at Pannone Corporate has advised Boohoo Group on the acquisition.
The team was led by chairman Steven Grant and included Amy Chandler, Brogan Pani and Rebecca Lunney.
They worked closely with boohoo’s in house legal team, Keri Devine and Tom Kershaw, and its US-based lawyers, on boohoo group’s bid to secure Nasty Gal’s intellectual property assets.
Chandler said: “We are delighted to advise boohoo on this latest acquisition. Nasty Gal is a globally recognised brand and the deal will significantly enhance the group’s international presence.”
