City of Industry, Calif. and Egg Harbor Township, N.J. — Spencer Spirit Holdings has signed a definitive agreement with Sycamore Partners to acquire Hot Topic and its portfolio of brands: Hot Topic, BoxLunch and Her Universe. The transaction unites six complementary retail concepts under one umbrella, expanding the combined company’s total footprint to more than 3,000 stores across North America.
After closing, Hot Topic, BoxLunch and Her Universe will continue to operate independently from the Spencer Spirit business and maintain their existing headquarters in California.
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the third quarter.
Solomon Partners is serving as exclusive financial advisor to Spencer Spirit Holdings. Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal advisor. Wells Fargo is serving as lead arranger for debt financing. Jefferies LLC is serving as financial advisor to Hot Topic and Kirkland & Ellis LLP is serving as legal advisor.