Sequential Brands soars on deal to buy Galaxy Brand

|About: Sequential Brands Group,... (SQBG)|By:, SA News Editor

Sequential's portfolio expands from 8 to 12 brands, adding Avia, AND1, Nevados, and Linens 'N Things with the purchase of Galaxy Brands for $100M in cash and 13.75M in shares. Galaxy owner Carlyle Group will become a significant shareholder in Sequential and take one seat on the company board.

SQBG +15% premarket