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Frederick's of Hollywood sells Movie Star to Dolce Vita Intimates

US women's intimate apparel retailer Frederick's of Hollywood Group (AMEX:FOH) said yesterday it has finalized the divestment of its wholesale unit Movie Star to local sector player Dolce Vita Intimates without providing financial details.

The move is part of Frederick's of Hollywood's strategy to streamline its activities and expand its retail unit, CEO Thomas Lynch said in a statement. The proceeds from the transaction will also enable the company to back up its continuing business and carry out its strategy to grow, the CEO added.

Frederick's of Hollywood was consulted by Avalon Group Ltd on the deal, while Dolce Vita received advisory from CoView Capital Inc.