B. Riley Financial Acquires Stake In Fashion Brand Scotch & Soda

B. Riley Financial, Inc. RILY has acquired an equity interest in Scotch & Soda through its participation in the recent acquisition of the fashion brand by Bluestar Alliance.
Scotch & Soda is a Dutch fashion label that offers collections for menswear, womenswear, childrenswear, denim, eyewear, fragrances, and accessories.
Bluestar will keep the brand operating while expanding its luxury retail distribution strategy and bringing Scotch & Soda to new consumer demographics.
Bryant Riley, Chairman, and Co-Chief Executive Officer of B. Riley Financial, commented: "This investment builds on the success of our long-standing relationship with Bluestar and enhances our existing brands business. Our brands portfolio has generated meaningful returns for B. Riley since the inception of this business on our platform at the end of 2019. We intend to pursue additional opportunities to enhance this business in line with our stated strategy to expand and diversify our sources of steady and recurring earnings."
As of March 31, 2023, RILY held $210 million in cash and equivalents.
Price Action: RILY shares are trading lower by 0.15% at $33.65 on the last check Wednesday.