RILY - B. Riley buys equity interest in Dutch fashion brand Scotch & Soda

2023-05-17 09:31:56 ET

B. Riley Financial ( NASDAQ: RILY ) has acquired an equity interest in Dutch fashion brand Scotch & Soda in an effort to enhance the its overall brands portfolio, the financial services firm said Wednesday.

Brand management company Bluestar Alliance, which recently acquired Scotch & Soda, will continue to operate the brand and introduce it to new consumer demographics.

"We intend to pursue additional opportunities to enhance this business in line with our stated strategy to expand and diversify our sources of steady and recurring earnings," B. Riley Chairman and Co-CEO Bryant Riley said of the company's brands portfolio.

Terms of the transaction were not disclosed.

For context, B. Riley ( RILY ) established its brands business in October 2019 with the purchase of assets and intellectual property related to six brands. It then expanded the portfolio through its participation in Bluestar's acquisitions of Hurley and Justice in November 2019 and December 2020, respectively.

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