Spencer Spirit Holdings, the Egg Harbor Township brand known for its pop-up Halloween costume stores and — for those of us who are older — the store at the mall with blacklight posters, novelty gifts and off-color humor that now would be considered tame, made a major move to become a major retailer Thursday.
The company announced it has signed a definitive agreement with Sycamore Partners to acquire Hot Topic, Inc. and its portfolio of brands: Hot Topic, BoxLunch and Her Universe. The deal unites six retail brands under one roof and expands the combined company’s footprint to more than 3,000 stores across North America.
Spencer Spirit’s current portfolio includes Spirit Halloween, the largest Halloween retailer in North America with more than 1,550 locations; Spencer’s, the mall staple entering its 80th year with more than 650 locations; and Spirit Christmas, a newer seasonal concept expected to have 44 locations this year.
Hot Topic brings its namesake pop-culture retailer, with more than 615 locations across the U.S. and Canada; BoxLunch, a licensed pop-culture apparel retailer with more than 280 stores that donates at least one meal through Feeding America for every $10 spent; and Her Universe, a fandom-focused fashion brand.
After the deal closes, Hot Topic, BoxLunch and Her Universe will continue operating independently from the Spencer Spirit business and will keep their existing headquarters in California. Steve Vranes, who has led Hot Topic as CEO for more than a decade, will stay in that role overseeing the three brands, reporting to Spencer Spirit CEO Steven Silverstein.
“Joining forces creates an incredible platform of distinctive, established brands that share a passion for product, storytelling, and customer experience,” Silverstein said. “While our operating models and strategies cater to unique and different audiences, our core values, mission, and commitment to innovation are completely aligned. This transaction enhances our long-term durability, broadens our reach, and positions us to write the next chapter of retail history together.”
“This partnership marks an exciting milestone for our brands, team members, and customers,” Vranes said. “By joining a complementary portfolio while maintaining our operational independence, we can build on the tremendous growth our teams have delivered over the past decade and drive even more opportunities for expansion.”
“Since acquiring Hot Topic, Inc. in 2013, we’ve worked closely with the management team to drive significant growth across its three brands, and this transaction represents an outstanding outcome for Sycamore and our investors,” said Dary Kopelioff, managing director of Sycamore Partners. “We’re proud of the value we’ve built together over more than a decade, and we’re confident Spencer Spirit Holdings, Inc. is the right partner to carry this growth forward for the brands and their teams.”
Earlier this month, the company announced The pop-up costume purveyor plans to open the most stores in company history this year, with a record-setting 1,575 stores, compared to 1,546 in 2025 and 1,535 in 2024, USA TODAY previously reported. Doors will open across the nation in the coming weeks.
The deal, subject to customary closing conditions and regulatory approval, is expected to close in the third quarter.
