Batteries Plus Bulbs changes owners
July 8, 2016 04:27 PM
Batteries Plus Bulbs has a new owner.
Private equity firm Freeman Spogli bought the multichannel batteries and lightbulbs retailer for an undisclosed price from another private equity company, Roark Capital Group, which invests primarily in food companies. Robert W. Baird & Co. Inc. was the lead adviser for Batteries Plus Bulbs.
Batteries Plus Bulbs, No. 682 in the Internet Retailer 2016 Second 500 Guide, was a finalist for Omnichannel Retailer of the Year at the 2016 Internet Retailer Excellence Awards. Freeman Spogli either owns or invests in several retailers in the Top 1000 including hhgregg Appliances Inc. (No. 246), Sur La Table (No. 265) and Boot Barn Inc. (No. 565). Roark’s investments include Arby’s and Seattle’s Best Coffee.
"Batteries Plus Bulbs is uniquely positioned as the category specialist in its large and growing markets,” Freeman Spogli partner Benjamin Geiger says. “In categories where purchases are typically need-based, time sensitive and driven by convenience and service, the company has successfully established customer loyalty through its unmatched product offering and knowledgeable staff.”
Last year, Batteries Plus Bulbs unveiled its relaunched site, which features responsive design to adapt the site to the size of the screen it’s being viewed on, improved search functionality and improved capabilities for business-to-business customers.
According to Top500Guide.com and Internet Retailer estimates, Batteries Plus Bulbs’ web sales totaled $15.6 million last year, up 2.0% from $15.3 million in 2014.