Daily News
From Home Furnishing Business
NexCen Brands Acquires Waverly
May 2,
2007 by in UnCategorized 
By Home Furnishings Business in Upholstery on May 2007
NexCen Brands has completed its acquisition of the Waverly brand from F. Schumacher & Co.
As part of the deal, NexCen acquired all of the intellectual property and license contracts related to the Waverly, Gramercy and Village brand products and services.
We are thrilled to expand our growing business with the acquisition of Waverly, said Robert W. DLoren, president and chief executive officer of NexCen. We look forward to combining our expertise in marketing and operations with the talented team of home products designers and licensing professionals at Waverly to further grow the brands leadership position. Additionally, there are exciting synergies between Waverly and NexCens existing portfolio of brands.
NexCen paid $36.8 million in cash and issued a 10-year warrant to purchase 50,000 shares of common stock in connection with the acquisition. NexCen estimates that the Waverly brand will generate about $9 million of royalty revenue.
With this acquisition, NexCen adds Waverly to its stable of brands, which include The Athletes Foot, Bill Blass, MaggieMoos and Marble Slab Creamery.