Marquee Brands Adds to Portfolio

Marquee Brands has agreed to acquire the Martha Stewart and Emeril Lagasse brands from publicly-traded Sequential Brands Group.

Marquee Brands was formed by Neuberger Berman in 2014 to acquire, license and manage a portfolio of consumer brands. The company and Neuberger Berman closed a dedicated investment fund, Marquee Brands Partners LP, in February 2016 with $462 million of committed capital.

The Martha Stewart brand is a media and merchandising platform founded by Martha Stewart, a media personality, author, and lifestyle icon. Ms. Stewart will join the Marquee Brands team and continue to guide the brand she founded. The Emeril Lagasse cooking brand was founded in 1990 by Emeril Lagasse, an award-winning chef, restauranteur, and media personality.

Marquee’s investment team is led by Samuel Porat and Zachary Sigel, both are managing directors at Neuberger Berman. The operating arm of Marquee is led by Michael DeVirgilio, president, and Cory Baker, chief operating officer. Both teams are based in New York (www.marqueebrands.com).

“This transformative acquisition allows Marquee Brands to enter the home, food, and media sectors,” said Mr. Sigel. “The addition of new partners, customers, and capabilities will further diversify Marquee Brands, improving its position as a preeminent global brand owner.”

With the buy of the Martha Stewart and the Emeril Lagasse brands, Marquee Brands will form a new Home and Food division which joins its existing Women’s Fashion, Men’s Fashion and Active/Outdoor divisions. The new division will be led by Carolyn D’Angelo, the president of Sequential Brands’ home division.

Marquee currently owns women’s fashion brands BCBGMAXAZRIA and BCBGENERATION (acquired in 2017); British inspired men’s clothing brand Ben Sherman (acquired in 2015); outdoor sports brand Body Glove (acquired in 2016); luxury Italian footwear brand Bruno Magli (acquired in 2015); and outdoor sports and lifestyle brand Dakine (acquired in 2018).

“Martha Stewart is a visionary whose educational mission and innovative approach has inspired millions of people to live more meaningfully. Martha Stewart branded products, known for their high quality, superior function and beautiful design, have enriched homes around the world,” said Mr. Porat.

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide with $323 billion in client assets as of March 31, 2019. The firm has offices in 23 countries and is headquartered in New York (www.nb.com).

The buys of the Martha Stewart and Emeril Lagasse brands are expected to close in the second quarter of 2019.

© 2019 Private Equity Professional | April 17, 2019

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