Gordon Brothers Brands, LLC, Announces Court Approval to Purchase The Sharper Image Brand
New York, (May 29, 2008): A joint venture led by Hilco Consumer Capital, L.P. (“HCC”), Gordon Brothers Brands, LLC (“GBB”), and Bluestar Alliance (“Bluestar”), in partnership with Windsong Brands, LLC and Crystal Capital, today announced court approval to purchase The Sharper Image brand and other intellectual property.
The joint venture partners have developed a global licensing strategy for wholesale, direct-to-retail (DTR), e-commerce and catalog businesses which will exploit The Sharper Image’s heritage of quality, excitement, innovation and fun.
During its 32-year history, The Sharper Image has developed one of America’s most widely recognized and positively perceived consumer brands. The joint venture recognizes The Sharper Image’s blend of upscale specialty positioning, iconic stature, outstanding consumer recognition and appeal across a wide demographic.
Jamie Salter, CEO of Hilco Consumer Capital commented “We are delighted with this acquisition and we are proceeding immediately with our plans to partner with world class licensees and retailers to introduce innovative high quality products that will satisfy both the needs and enjoyment of The Sharper Image customers. The Sharper Image brand will be extended internationally in existing and new categories that consumers want and need. The QUALITY, EXCITEMENT, INNOVATION and fun that The Sharper Image is renowned for will soon be available worldwide.”
Stephen Miller of Gordon Brothers commented “This is a terrific opportunity to transform a tier-one, iconic American brand into a global, multi-channel platform of diverse and unique consumer products using leading technologies and trend-setting innovations. This reflects the core transformational competencies of the joint venture partners and we look forward to working with existing and new licensees to grow the brand worldwide and in multiple categories.”
Joseph Gabbay of Bluestar stated “Internationally, the integrity of the brand is top in its field. The Sharper Image connotes quality and excitement with products that are unique in both feature and function, and translate into almost all categories
The joint venture will partner with a number of global institutions in the ongoing development of The Sharper Image brand.
Interested parties should contact:
John Collins at HCC: [email protected] or 416-682-5680
Brad Snyder at GBB: [email protected] or 617-422-6216
Joseph Gabbay at Bluestar: [email protected] or 212-695-6878
Bill Sweedler at Windsong Brands: [email protected] or 203-319-3600
About Hilco Consumer Capital:
Hilco Consumer Capital (www.hilcocc.com) is a private equity firm that makes strategic investments in consumer lifestyle brands through acquisitions of North American manufacturers, wholesalers, intellectual property and retailers. HCC investments range from $25 million to $250 million. Current portfolio brands and companies include Caribbean Joe®, Ellen Tracy, Halston®, Tommy Armour Golf®, RAM Golf®, and Bombay Brands, LLC. HCC is a unit of The Hilco Organization, a Chicago-based, international provider of diversified financial and operational services, including business asset valuations, asset acquisition and disposition services, M&A services and retail consulting.
About Gordon Brothers Brands, LLC:
Gordon Brothers Brands, LLC is a member of the Gordon Brothers Group family of companies. GBB purchases, sells, and licenses brands and other intellectual property. Founded in 1903, Gordon Brothers Group (www.GordonBrothers.com) is a global advisory, restructuring and investment firm specializing in retail and consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $40 billion in annual transactions and appraisals.
About Bluestar Alliance:
Bluestar Alliance was established in January 2007 by Joey Gabbay and Ralph Gindi. The fund’s purchase of Liz Lange was preceded by its acquisition of better men’s apparel firm Ron Chereskin Studio, Inc. in September 2007 and quickly followed by that of junior brand Hot Kiss in February 2008. Gabbay is also president of Wellington Capital Group, which purchased the Harvé Benard ladies’ brand in September 2006. Each of these apparel companies operates as a wholly-owned subsidiary.
About Windsong Brands LLC:
Windsong Brands, LLC (www.windsongbrands.com ) is a private equity firm that focuses on investments in leading middle market consumer companies that own strong recognizable brands. The team has a diverse background of consumer expertise that assists and guides company management to unlock the true potential of their brand. Windsong Brands makes majority and minority investments in both public and private companies. Investments and portfolio brand companies include Ellen Tracy, Caribbean Joe, Joe’s Jeans, Field & Stream, Como Sport, and Alerion Aviation.