Authentic Brands seals deal to buy Frederick's of Hollywood

A Frederick's of Hollywood fashion show.
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Authentic Brands, 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.

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.