Bluestar Alliance LLC (BSA) announced today that it has signed a definitive agreement to acquire popular tween fashion brand Justice. Bluestar’s winning bid at a competitive auction conducted by Ascena Retail Group under Section 363 of the U.S. Bankruptcy Code was valued at approximately $90 million and includes intellectual property, certain related assets, and the assumption of certain liabilities.
“Bluestar has continued to grow and strategically build its portfolio,” commented Joseph Gabbay, Chief Executive Officer of Bluestar Alliance. “Today we are a premiere brand management and marketing company, and Justice is an important asset with years of growth ahead. An icon of Tween culture, with its influence felt across fashion, lifestyle, pop-culture, and more, we see an opportunity for global brand extensions and partnerships.”