Hot Topic Is Said to Near $350 Million Sale to Spencer’s Parent

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Or sign-in if you have an account.(Bloomberg) — Sycamore Partners is in advanced talks to sell teen retailer Hot Topic to the parent of Spencer’s and Spirit Halloween, ending 13 years of ownership, according to people familiar with the matter. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountSpencer Spirit Holdings Inc.’s takeover of Hot Topic for $350 million could be announced as soon as Tuesday, said the people, who asked to not be identified because the details aren’t public. Generations of young mall-goers have grown up buying lava lamps, band T-shirts, offbeat collectables and other pop-culture merchandise from Hot Topic and Spencer’s, two of the best-known names in alt-teen fashion. A final agreement hasn’t been reached and details including the timing could still change, the people said. A spokesperson for Sycamore declined to comment. Representatives for Spencer Spirit didn’t immediately respond to requests for comment. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againSycamore took Hot Topic private for about $600 million in 2013, just as mall traffic was declining and digital retail was taking off. Founded in the late 1980s, Hot Topic helped popularize punk, heavy metal, emo and other counter-culture fashion. Sycamore, which turned around retailers including Staples and The Limited, expanded Hot Topic’s focus on licensed merchandise from the likes of Marvel and Pokemon. Hot Topic started pop-culture-focused brand BoxLunch in 2015 and bought Her Universe a year later. Today, Hot Topic has more than 600 locations throughout the US and Canada. Sycamore spun off the retailer’s faster-growing plus-size fashion brand Torrid Holdings Inc. in 2015, taking it public about six years later. A deal would add another mall-focused property to Spencer Spirit’s stable of brands, including its pop-up Halloween stores, which have become a staple throughout the US and Canada. Spirit Halloween plans to open more than 1,500 seasonal stores this year.Spencer’s, which started as a mail-order catalog in 1947, has been selling novelty merchandise and gag items at US malls since the 1960s and now has more than 670 stores, according to its website.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.