Digital Brands Group Acquires Sundry

Digital Brands Group, Inc. (NASDAQ: DBGI) signed a definitive agreement to acquire Sundry, a privately‑owned omnichannel women's lifestyle apparel brand headquartered in Los Angeles. The transaction consideration includes approximately $7.5 million in DBGI common stock, $20.0 million in cash at closing and $14.0 million in promissory notes, and is expected to close late in the first half of 2022; DBGI said the acquisition will expand its brand portfolio, drive scale and marketing synergies across its platform.