Press Release

Morgan Lewis Advises Fanatics on Barnes & Noble Joint Venture and Investment

December 21, 2020

PHILADELPHIA, December 21, 2020: Morgan Lewis represented Fanatics in its equity investment in Barnes & Noble Education Inc. (BNED), a solutions provider for the education industry, and, in connection therewith, a merchandising partnership between BNED and Fanatics and Lids.

BNED will utilize Fanatics’ ecommerce and technology expertise for expanded product selection, a world-class online and mobile experience, and a progressive direct-to-consumer platform. Under the terms of the agreement, Fanatics and Lids Sports Group will jointly make a $15 million strategic equity investment in Barnes & Noble.

Morgan Lewis partners Kevin Shmelzer, Jim McKenzie, and Richard Aldridge, and associates Jackie Hamilton and Michelle Catchur advised Fanatics. Earlier this month, Morgan Lewis advised Fanatics on the acquisition of WinCraft and in August the firm counseled Fanatics in its $350 million Series E investment round.

For more, read the announcement.