Galaxy Universal nets loan for $330M Active Brands purchase

Galaxy Universal LLC agreed to acquire the And1, Avia, Gaiam and SPRI brands, known collectively as Active Brands, for $330 million.

KKR led debt financing backing the acquisition and will participate as a co-investor. KKR is investing in Galaxy through private credit managed accounts.

Sequential Brands Group Inc. is selling the assets. The transaction is expected to close by mid-November.

New York-based Galaxy Universal, a portfolio company of Gainline Capital Partners, is an integrated marketing and manufacturing company with brands such as Cherokee, Hi-Tec, Interceptor, Magnum, Tony Hawk and more. The company is a licensee of other brands, including Justice and London Fog.