Galaxy Universal To Acquire And1, Avia, Gaiam And SPRI Brands; KKR To Finance Deal

(RTTNews) - Galaxy Universal, LLC, a portfolio company of Gainline Capital Partners, has agreed to acquire the And1, Avia, Gaiam and SPRI brands from Sequential Brands Group, Inc. for approximately $330 million. KKR led the debt financing for the acquisition and will participate as a co-investor.

"Galaxy's vertical integration strategy and strong specialization in active products positions the company to take these great brands to new heights," said Lauren Krueger, Managing Director at KKR.

KKR is making its investment in Galaxy Universal through certain private credit managed accounts.