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Company seals deal to buy legendary lingerie brand

NEW YORK - Authentic Brands Group LLC, which owns celebrity brands such as Elvis Presley and fashion brands including Jones New York, says it completed its buyout of lingerie brand Frederick's Of Hollywood Inc.

A bankruptcy court judge in Delaware approved the $22.5 million sale earlier this month.

In a statement Tuesday, Authentic Brands said the deal increases its portfolio to nearly $5 billion in retail sales.

Authentic Brands also owns the celebrity brands for Marilyn Monroe and Muhammad Ali and fashion brands including Juicy Couture and Airwalk.

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