Vera Bradley, Inc. completed the acquisition of remaining 25% stake in Creative Genius, Inc. from Griffin Thall and Paul Goodman.
January 29, 2023 at 11:00 pm
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Vera Bradley, Inc. (NasdaqGS:VRA) entered into an Interest Purchase Agreement to acquire remaining 25% stake in Creative Genius, Inc. from Griffin Thall and Paul Goodman for $10 million on January 23, 2023. The Transaction is expected to close on January 30, 2023. Stephen J. Hackman, Esq. of Ice Miller LLP acted as legal advisor to Vera Bradley, Inc. Michael B. Abramson of Solomon Ward Seidenwurm & Smith acted as legal advisor to Creative Genius, Inc.
Vera Bradley, Inc. (NasdaqGS:VRA) completed the acquisition of remaining 25% stake in Creative Genius, Inc. from Griffin Thall and Paul Goodman in January 30, 2023. The Transaction was not subject to financing conditions. Vera Bradley?s existing available cash and cash equivalents funded the purchase price. Following completion of the Transaction, Vera Bradley owns 100 % of the ownership interests in Pura Vida.
Vera Bradley, Inc. is a designer of women's handbags, luggage and other travel items, fashion, and home accessories. The Company operates through three segments: Vera Bradley Direct (VB Direct), Vera Bradley Indirect (VB Indirect), and Pura Vida. The VB Direct business consists of sales of Vera Bradley products through Vera Bradley full-line and factory outlet stores in the United States; e-commerce sites verabradley.com and verabradley.ca; the Vera Bradley online outlet site; and typically, the Vera Bradley annual outlet sale in Fort Wayne, Indiana. The VB Indirect business consists of sales of Vera Bradley products to, specialty retail locations, all of which are located in the United States; as well as department stores, national accounts, third-party e-commerce sites, and third-party inventory liquidators; and royalties recognized through licensing agreements related to the Vera Bradley brand. Its Pura Vida is a digitally native lifestyle brand.
VERA BRADLEY, INC. 
