AUSTIN, Texas and CHARLESTON, S.C., Jan. 8, 2019 /PRNewswire/ -- NBG Home ("NBG" or the "Company"), the largest provider of affordable home décor products, today announced that it has acquired Quoizel, a leading designer and marketer of decorative lighting. Following the transaction, Quoizel's headquarters and team will remain in Charleston, South Carolina, and Rick Seidman, President of Quoizel, will continue in his role. This acquisition is the second for NBG in less than two years under the ownership of private equity firm Sycamore Partners.
Scott Slater, CEO of NBG, said, "We are pleased to welcome Quoizel to the NBG family. Quoizel's brand is widely known for quality and innovation in fine decorative lighting. Its strong sales force and capable design team are well-regarded for their customer first attitude. We look forward to partnering with Rick Seidman and the Quoizel team as we increase our operating scale, product and brand diversity to further enhance our category management solutions to the benefit of our retail partners. Furthermore, we plan to capitalize on each company's market leadership, sales force and capabilities to driver higher revenue growth than either company could independently accomplish."
Mr. Seidman said, "We are excited about this next chapter in Quoizel's proud history, as it ensures our loyal customers continue to have access to our timeless products while enabling our talented team to continue doing what they do best. NBG was thoughtful in helping our ownership group achieve their objectives, and with NBG's support and scale, we can enhance our capabilities and expand distribution points across North America and Europe, providing an attractive future for our employees, customers and vendors."
Peter Morrow, Managing Director at Sycamore Partners, said, "This transaction, which follows NBG's purchase of Cheyenne Products a year ago, reflects Sycamore's confidence in NBG. The company is growing organically and through acquisitions as it further strengthens its deep connections to the world's leading omni-channel retailers through market-leading design, merchandising and sourcing capabilities. We look forward to continuing our support of NBG and its team as they execute on this growth strategy."
Baird served as financial advisor to Quoizel and Houlihan Lokey served as financial advisor to NBG Home.
NEW YORK, Jan. 7, 2019 /PRNewswire/ -- Sycamore Partners today announced that it has completed its acquisition of Pure Fishing from Newell Brands.
Peter Morrow, Managing Director at Sycamore Partners, said, "Pure Fishing and its portfolio of global brands represent an exciting opportunity to continue our strategy of investing in and supporting great retail and consumer brands with significant potential. We are excited to help Pure Fishing build on its market-leading position and accelerate its growth. We are also pleased to have been able to work constructively on this carve-out for Newell Brands to further its strategic transformation."
In connection with the closing, Harlan Kent has been named Chief Executive Officer of Pure Fishing. Mr. Kent has more than 30 years of experience working with and leading brands including Performance Sports Group, Totes Isotoner, and Yankee Candle Company.
Mr. Kent said, "I am honored to be a part of the Pure Fishing team, particularly at this exciting juncture. Sycamore Partners is well known for partnering with management teams to create value, and I look forward to benefiting from their support and expertise. Together with Pure Fishing's employees, we will best leverage our portfolio of leading brands to the benefit of our customers.