Spirit Halloween parent company to acquire Hot Topic

Insight summary

• •Spencer Spirit Holdings will acquire Hot Topic, Inc. and its portfolio under an undisclosed financial agreement.
• •Hot Topic and its subsidiaries will keep independent operations and remain headquartered in California.
• •Hot Topic CEO Steve Vranes will continue leading and report to Spencer Spirit CEO Steven Silverstein.
• •The acquisition combines six retail brands including Spencer’s, Spirit Halloween, Spirit Christmas, Hot Topic, BoxLunch, and Her Universe.
• •The merged entity will operate over 3,000 stores across North America.
• •Bloomberg reported the purchase price for Hot Topic was $350 million.
• •Sycamore Partners previously bought Hot Topic in 2013 for around $600 million including Torrid and Blackheart brands.