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B. Riley Financial Establishes Brand Investment Portfolio

LOS ANGELES, Oct. 30, 2019 /PRNewswire/ --A B. Riley Financial, Inc. (NASDAQ:RILY) ("B. Riley" or the "Company"), a diversified financial services company which operates through several wholly-owned subsidiaries, today announced it has established a brand investment portfolio which aligns with the Company's strategy of pursuing strong free cash flow investment opportunities to generate accretive recurring revenue for the B. Riley platform. Through an investment of $116.5 million, the Company holds majority ownership of the assets and intellectual property related to licenses of six brands: Catherine Malandrino, English Laundry, Joan Vass, Kensie Girl, Limited Too and Nanette Lepore. The Company has also agreed to invest in Bluestar Alliance's recently announced acquisition of the Hurley brand, which is expected to close in December.
B. Riley Financial Establishes Brand Investment Portfolio
"The shifting retail landscape has created more opportunities to acquire licenses for established and up-and-coming brands at an attractive valuation. Our significant investment in these seven brands provides balance to our more volatile businesses, while also supporting our dividend strategy," said Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial. "Through the formation of this brand investment portfolio, combined with our ongoing partnership with Bluestar Alliance and our existing ownership stake in bebe stores, we believe we have credibly established ourselves as a significant financing source and investment partner to brand management companies."The Company intends to grow licensing revenue from the brand holdings in partnership with Bluestar Alliance by leveraging its extensive relationships and strategic partnerships in the retail sector. The Company intends to pursue future acquisitions of consumer brands, intellectual property, trademarks and licenses, and participate in select transactions as an equity owner.For more information, visit ir.brileyfin.com.
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