The Iconix Brand Group, whose brand portfolio includes Danskin, Starter and Umbro, among others, has entered into a definitive agreement to be bought by a private equity company, Lancer Capital, though its affiliate Iconix Acquisition Corp., in an all-cash transaction that values Iconix at about $585 million including net debt. The decision “represents the culmination of a year-long examination by our board of directors of strategic alternatives for the company,” said Bob Galvin, Iconix’ CEO. He added that “after a thorough and deliberative examination of all potential strategic alternatives, the board of directors determined that the transaction with Lancer provides the best value for our stockholders. We expect that Iconix will continue developing its brands and supporting its partners as a private company.” Lancer Capital is offering $3.15 per Iconix share for the company, which made a loss of $7.3 million on revenues of $103.5 million in the past year. The agreed price represents a premium of 28.6 percent over the company’s closing share price on June 10,2021 and a premium of around 46.5 percent over its average volume-weighted share price for the 30-day period ended on the same date. Iconix expects the transaction to close before the end of the third quarter of 2021.