Sur La Table sold to Investcorp
September 23, 2011 02:03 PM
Kitchenware retail chain Sur La Table Inc. was purchased this week by Investcorp, an international investment firm. Terms were not disclosed.
The retailer, which sells through 86 stores in the United States, online at SurLaTable.com and through catalogs, was acquired from the Behnke family and investment firm Freeman Spogli & Co. Both will remain investors in the company.
Investcorp sees a strong future for Sur La Table, No. 378 in the Internet Retailer Top 500 Guide.
“We believe that Sur La Table is well-positioned in its existing markets and has multiple opportunities for growth including new store expansion and e-commerce,” says Kevin Nickelberry, a managing director at Investcorp.
Sur La Table had an Internet Retailer-estimated $23.3 million in web sales in 2010, an increase of 16.0% from $20.1 million in the prior year.
Morgan Joseph TriArtisan Group Inc. acted as financial advisor to Investcorp in the transaction. William Blair & Co. was an advisor to the Behnke family and Freeman Spogli & Co.