2014

Spiegel Brands Acquires Carabella and A.B. Lambdin

    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
 businesses."
     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
 group."
     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:
 www.carabella.com, www.ablambdin.com.
     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

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.