Nanette Lepore has finally said "I do."
The contemporary sportswear designer has agreed to sell majority ownership of her brand to Bluestar Alliance LLC, marking the industry’s first merger and acquisition deal of the new year.
The two parties have been negotiating on and off since 2013. Bluestar and Lepore were introduced by The Sage Group LLC, a Los Angeles-based investment banking boutique, which initiated the transaction. The parties declined to reveal the terms of the deal, which is expected to close today.