Pharrell Williams and his partners have reportedly repurchased the 50% stake that Iconic Brands Group Inc. had in BBC Ice Cream LLC, the parent company of Billionaire Boys Club and ICE CREAM. The American brand management group, who also owns Umbro, Zoo York and Ecko Unltd. amongst others, is said to be struggling to complete the refinancing of a $300 million USD debt obligation due in June. According to a Iconix spokesperson the sale, “was a strategic decision to rationalize smaller noncore assets in the Iconix portfolio, allowing us to focus our time and resources on the larger cash flow generating brands. BBC and Ice Cream represented less than 1 percent of our total business.” This move allows Williams and his partners to resume full control over the two brands he founded back in 2005, with the aim of further expansion and growth.
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