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Wednesday, February 20, 2013

Iconix buys Lee Cooper brand for $72 mln, (NASDAQ: ICON)

Iconix Brand Group Inc, which licenses shoe and clothing brands to retailers and manufacturers, said it has acquired British denim label Lee Cooper for $72 million in cash. The company, owner of brands such as Ed Hardy, Rocawear and Candie's, said it bought the Lee Cooper brand through its Luxembourg subsidiary -- Iconix Luxembourg Holdings Sarl.

Iconix Brand Group, Inc. (Iconix) is a brand management company engaged in licensing, marketing and providing trend direction for a portfolio of consumer brands. Shares of ICON remained unchanged at $24.54. In the past year, the shares have traded as low as $14.27 and as high as $24.92. On average, 567552 shares of ICON exchange hands on a given day and today's volume is recorded at 0.