Marquee Brands is diversifying its women’s fashion division with the acquisition of leading maternity brands - Motherhood Maternity, A Pea In The Pod and Destination Maternity.

In a statement, Marquee Brands confirmed that it was the “successful bidder” to acquire the intellectual property, e-commerce business and other assets of Destination Maternity Corp., the group that currently commands the largest share of the US maternity market.

“Motherhood Maternity and A Pea In The Pod have been embraced by women for decades because of their commitment to innovation and focus on customer needs. We will continue to build on the brands’ legacy in a business model focused on e-commerce, select wholesale partnerships and strategic marketing relationships,” said David Zolot, principal of Neuberger Berman. “This transaction is representative of Marquee’s ability to acquire market-leading brands that have become challenged in the current retail environment and evolve their business model to create value for our investors.”

Through this acquisition, Marquee Brands said that it would diversify its women’s fashion division and add scale to its directly managed e-commerce platform, while also evaluating all aspects of the current business, including its network of retail stores, with a focus on transforming the business model to “better compete in the digital age” by building an engaged online community of new and expecting mothers and developing rich content to support their journeys.

Michael DeVirgilio, president of Marquee Brands, added: “At Marquee Brands, we have established a successful formula of targeting brands with a devoted customer base and a true need to exist. There are few brands that better fit our model than the Destination Maternity portfolio. Its young, affluent and highly educated consumer is the most sought-after market segment and we plan to apply our playbook to further elevate her experience.”

The addition of maternity brands to its women’s fashion division will operate alongside its other divisions - men’s fashion, active and outdoor and home and food.

The sale is subject to final approval by the United States Bankruptcy Court for the district of Delaware at a hearing scheduled on December 12, 2019, and the customary closing conditions set forth in the purchase agreement. It is expected that the transaction will close by December 20, 2019.

Marquee Brands is a leading global brand owner, marketing and media company, owned by investor funds managed by Neuberger Berman.

Image: Facebook/A Pea in the Pod