By admin 
(Gray News) – Spirit Halloween’s parent company announced it was acquiring the popular retail store Hot Topic.
Spencer Spirit Holdings, Inc. announced it had reached an agreement with the private equity firm Sycamore Partners to purchase Hot Topic, Inc. and its brands: Hot Topic, Her Universe and Box Lunch.
Bloomberg reported the company was bought for $350 million.
With its new acquisition, Spencer Spirit Holdings, Inc. will now have about 3,000 stores nationwide operating under six different brands.
The company already owned the iconic Halloween pop-up store, Spirit Halloween, as well as its Christmas counterpart, Spirit Christmas. It also owned the retail brand Spencer’s, known for its grungy, alternative clothing and accessories.
Known for catering to all sorts of fandoms and aspects of pop culture, Hot Topic is most popular among teenagers and young adults. Its brands Box Lunch and Her Universe offer a more elevated and fashion-driven experience.
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“Together, the combined entity creates a bicoastal retail ecosystem rooted in culture and entertainment,” Spencer Spirit Holdings said in a press release.
According to the press release, Hot Topic, Her Universe and Box Lunch will continue to operate independently and remain at their headquarters in California in order “to preserve the distinct DNA, culture, and operational strength of each brand.”
Hot Topic’s CEO Steve Vranes will remain in his position and will report to Spencer Spirit Holdings, Inc. CEO Steven Silverstein.
Sycamore Partners expects the deal to close in September. According to business site Retail Dive, Sycamore Partners had acquired Hot Topic in 2013 for about $600 million.
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