NEW YORK, Sept. 6 /PRNewswire/ -- Spiegel Brands Inc. and Golden Gate
Capital today announced the completion of their acquisition of Carabella
Corporation and its Carabella and A.B. Lambdin catalog businesses. New
York- based, Spiegel Brands Inc. is the parent company of Spiegel Catalog,
Newport News Catalog and Shape FX. Carabella and A.B. Lambdin brands were
founded in 1983 and 1981 respectively and are recognized as leaders in the
direct swim and evening wear market. Carabella Corporation is headquartered
in Irvine, California.
"We are thrilled to welcome Carabella and A.B. Lambdin to the Spiegel
Brands family," said Geralynn Madonna, President and CEO of Spiegel Brands
Inc. "The addition of Carabella and A.B. Lambdin gives us a great
opportunity to serve a larger share of the growing swimwear market and
capitalize on the growth opportunities in relation to our existing
Echoing these sentiments, Houshang Jalili, Carabella Corporation's
Chairman and President added, "This is a very exciting time and a very
positive partnership for Carabella and A.B. Lambdin." With Spiegel Brands'
expertise in specialty retail and Golden Gate Capital's strong financial
backing we have found the best possible partner for the future. We look
forward to being a part of this great family of brands and to continuing to
offer the excellent merchandise and customer service that our loyal
customers have come to expect."
"We are very excited about the addition of Carabella and A.B. Lambdin
to the Catalog Holdings family of women's apparel and specialty brands,"
said Stefan Kaluzny, a Managing Director at Golden Gate Capital. "With the
addition of the two brands, we have significantly increased our offerings
of swimwear and elegant eveningwear. Furthermore, adding Carabella's two
brands to our eight existing catalog titles creates ever greater
opportunities for each to benefit from the scale and expertise of the
Following the successful acquisitions of Newport News and Spiegel in
the summer of 2004, Appleseed's and Draper's & Damon's in November 2005,
and Norm Thompson Outfitters in March 2006, Golden Gate Capital has become
one of the leading investors in the women's specialty retail market, with a
focus on the direct channel. While each of Golden Gate's ten catalog titles
continue to operate independently, there exist significant opportunities
for each to benefit from being part of an industry-leading portfolio. With
the acquisition of Carabella, Golden Gate's direct apparel portfolio will
have annual gross sales in excess of $1 Billion. Golden Gate continues to
seek additional acquisitions of similar brands.
Financial terms of the transaction were not disclosed.
About Carabella and A.B. Lambdin
Founded in 1983 and 1981 respectively, Carabella and A.B. Lambdin are
recognized as leaders in the direct swim and evening wear market. Well
known for their trademark swim offers, the brands have over the years
expanded to include shoes, sportswear, activewear and special occasion
dressing; all available through their respective catalogs and websites:
About Spiegel Brands Inc.
Spiegel Brands Inc. is one of the nation's leading direct marketers of
women's apparel. Headquartered in New York City, the Company manages three
brands: Newport News, Spiegel and Shape FX, each committed to fulfilling
the needs of their respective audiences with exceptional product, engaging
presentation and extraordinary customer service. Spiegel Brands Inc. is
part of Catalog Holdings - Golden Gate Capital's women's apparel holding
company. Spiegel's sister titles include Appleseed's, Drapers & Damon's,
The Tog Shop, Norm Thompson Outfitters, Solutions, Sahalie, and now
Carabella and A.B. Lambdin.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment
firm with approximately $2.5 billion of capital under management. Golden
Gate Capital is dedicated to partnering with world-class management teams
to invest in change-intensive, growth businesses. Golden Gate targets
investments in situations where there is a demonstrable opportunity to
significantly enhance a company's value. The principals of Golden Gate
Capital have a long and successful history of investing with management
partners across a wide range of industries and transaction types. For
additional information, visit www.goldengatecap.com.
SOURCE Spiegel Brands Inc