Business
B. Riley Acquires Interest in Scotch & Soda; Expands Brand Investments Portfolio
Participates in Bluestar Alliance's Acquisition of Scotch & Soda Brand LOS ANGELES, May 17, 2023 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B.
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Participates in Bluestar Alliance's Acquisition of Scotch & Soda Brand\nLOS ANGELES, May 17, 2023 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\"), a diversified financial services platform, today announced it has acquired an equity interest in Scotch & Soda through its participation in the recent acquisition of the fashion brand by New York-based brand management company, Bluestar Alliance, LLC (\"Bluestar\").\n\n \n \n \n \n \n \n\n \nB. Riley adds Scotch & Soda to brand investment portfolioScotch & Soda is a Dutch fashion brand with collections spanning menswear, womenswear, kidswear, denim, eyewear, fragrances, and accessories. Bluestar will continue to operate the brand while expanding its luxury retail distribution strategy and introducing Scotch & Soda to new consumer demographics.\nBryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, commented: \"This investment builds on the success of our long-standing relationship with Bluestar and enhances our existing brands business. Our brands portfolio has generated meaningful returns for B. Riley since the inception of this business on our platform at the end of 2019. 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.\"\nB. Riley established its brands portfolio in October 2019 with the purchase of assets and intellectual property related to six brands: Catherine Malandrino, English Laundry, Joan Vass, Kensie, Limited Too and Nanette Lepore. B. Riley expanded its brands portfolio through its participation in Bluestar's acquisitions of Hurley and Justice in November 2019 and December 2020, respectively.\nAbout B. Riley FinancialB. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance,...