LLYC Announces Sale of its Majority Stake in BAM to Rebecca Bamberger for $9 million

LLYC (BME: LLYC) announced that it has sold its 80% stake in BAM (Rebecca Bamberger Works LLC) to Rebecca Bamberger as part of its broader plan to consolidate and strengthen operations in key markets. 

Under the executed agreement, BAM’s founder repurchased 80% of the company’s shares previously owned by LLYC for a total price of $9 million. LLYC acquired this majority stake in March 2023, allowing the company to recover its original investment and all associated transaction costs. 

Under the agreement’s terms, the transaction price will be settled in cash, with an initial payment of $2.5 million already completed, followed by scheduled installment payments, including interest, through December 2030. LLYC has dismissed all legal actions against Rebecca Bamberger and her team as part of the agreement. The parties have further stipulated that the Court will retain jurisdiction to oversee compliance with the terms of the agreement. 

This transaction does not impact LLYC’s operations in the U.S. nor its growth plans in the region. LLYC has excluded BAM from its consolidated results in the audited financial statements for the first half of 2024 and unified operations under one management structure.

LLYC’s Robust Growth Platform in the U.S.

In the first half of 2024, LLYC’s U.S. revenues, excluding BAM, totaled $9.4 million, making the U.S. LLYC’s second-largest market, driven by significant revenue generation and consolidated operations that streamline business processes, foster collaboration across teams, and optimize resource allocation. Following the acquisition of Lambert by LLYC, LLYC has expanded its footprint across the East Coast and Midwest, establishing a robust platform for future growth. 

LLYC recently announced the new U.S. leadership with Jeff Lambert as U.S. Executive Chairman and Mike Houston as CEO. With over 100 professionals and offices in Miami, New York, and Washington, D.C., LLYC leverages its global expertise and local insights to deliver a wide range of products and services based on creativity, influence, and innovation. These efforts are designed to enhance and protect the value of its clients’ businesses, turning every day into an opportunity for brand growth.