Boohoo obtains approval for acquisition of Nasty Gal
Online fashion retailer Boohoo.com has obtained court approval for its acquisition of US fashion brand Nasty Gal.
Boohoo will acquire certain intellectual property assets and customer databases for $20 million. The transaction is expected to complete on 28 February 2017.
Nasty Gal filed for Chapter 11 Bankruptcy Code protection in the US Bankruptcy Court last November. Founded by Sophia Amoruso in 2006, Nasty Gal delivered net revenue of $77.1 million in the year ended 1 February 2016.
Mahmud Kamani and Carol Kane, Boohoo joint chief executives, said: “We are delighted to have been successful in our bid to acquire Nasty Gal. It represents an exciting opportunity to accelerate our international offering and inspire an ever-growing range of young customers in the US and around the world.”
