NORTHBROOK, Ill.--(BUSINESS WIRE)--Hilco Brands, LLC, the brand investment and management division of Hilco Global, today announced the acquisition of the Portico® and Under the Canopy® brands from New York-based Portico Brand Group. Key members of the Portico Brand Group management team will continue to manage both brands with guidance from Hilco Brands which will provide capital, corporate management and brand licensing advisory services.
The Portico brand includes a full collection of unique, eco-friendly products, including home and hotel furnishings, personal care and beauty products. The Under the Canopy brand represents high quality, stylish apparel, home, spa/hospitality and other textile-based products using environmentally and socially responsible materials and manufacturing methods. Both brands are currently licensed to leading manufacturers, including WestPoint Home and Hunter Amenities International.
Commenting on the acquisition, Jeffrey Branman, Managing Director of Hilco Brands, said, “Portico and Under the Canopy are exciting brands with enormous growth potential. The eco-friendly, socially responsible products currently being manufactured and marketed by world class licensees provide a solid platform for further growth. We look forward to supporting the current management team, led by Marci Zaroff, President and Chief Marketing Officer, and Rachel Whitlow, Chief Operating Officer.”
The Portico brand dates back to the 1992 opening of its flagship retail store on Spring Street in the heart of Manhattan’s SoHo neighborhood. The store carried high-end furniture, the finest cotton and linen home textiles, specialty bath and spa products, and loungewear. The SoHo store and other locations opened thereafter quickly became a destination for decorators, designers, and style-minded connoisseurs of exceptional products. Although the retail stores eventually closed, the brand’s DNA lived on and thrived through successful licensing strategies. “Joining forces with Hilco Brands provides us with both the branding expertise and the capital to expand the business and make the right strategic choices for the future. We’re thrilled to be working with Hilco,” said Whitlow. .
The Under the Canopy brand was founded in 1996 by ECOfashion pioneer Zaroff, who will continue to play a role at Hilco Brand’s acquisition company. Under the Canopy was the first lifestyle brand in the USA to present modern, high quality, and stylish products using environmentally and socially responsible materials and manufacturing methods.
Jeffrey B. Hecktman, Chairman and CEO of Hilco Global said, “The acquisition of the Portico and Under the Canopy brands is consistent with the focus of Hilco Brands, which is to invest in and help manage exciting brand businesses with promising futures by infusing them with smart strategic thinking and the capital required to thrive.”
About Hilco Brands: Hilco Brands (www.hilcocc.com) is a private equity firm that acquires and manages high-growth consumer lifestyle brands. Current portfolio brands and companies include Polaroid®, Halston®, and Miss America Properties®. Prior portfolio brands and companies that were successfully grown and sold include The Sharper Image®, sold to Iconix Brand Group (NASDAQ: ICON), Ellen Tracy® and Caribbean Joe®, sold to Sequential Brands Group (OTC:SQBG), Tommy Armour Golf® and RAM Golf®, sold to The Sports Authority, and Bombay Brands, sold to Otto International. Hilco Brands is a unit of Hilco Global, a privately held Chicago-based, provider of diversified financial services providing valuation, monetization and advisory solutions, including business asset valuations, asset acquisition and disposition services, real estate services, M&A services and retail consulting.
