Bluestar Alliance has signed a definitive agreement to acquire tween fashion brand Justice. Bluestar’s winning bid was valued at approximately $90 million, and includes the intellectual property, certain related assets and the assumption of certain liabilities. The transaction is expected to close before the end of November.
Justice was previously owned by Ascena Retail Group, which voluntarily filed for Chapter 11 bankruptcy protection in July 2020 and agreed to sell the Justice brand in October. Ascena had operated approximately 2,800 stores before it was hit hard by the pandemic.
“Justice is the world’s best-known Tween brand, yet it still has the capacity to grow, particularly in categories and distribution,” said Ralph Gindi, Co-Founder of Bluestar Alliance in a statement. “Our goal is to create even deeper connections with our consumers and the brand, while expanding Justice’s reach and footprint. Our future retailer partner will appreciate the heritage of the brand, and truly commit to servicing the Justice customer.”
The company will focus on engaging Justice’s current demographic and social following as it takes the brand into the future. Bluestar Alliance owns, manages and markets a portfolio of consumer brands including Hurley, bebe, Tahari, Brookstone, Kensie, Limited Too, Nanette Lepore, Catherine Malandrino and others.