Page 18 - Lighting Magazine February 2019

| intheNEws Continued from page 12
retail. Among the investments it has made over the past seven years are
the acquisitions of apparel retailers Talbots, The Limited, and The Jones Group (which included Jones New York, Nine West, and Stuart Weitzman), plus the intellectual property of Coldwater Creek.
In a statement Sco 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 ne decorative lighting. Its strong sales force and capable design team are well-regarded for their customer rst a itude. 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 bene t 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.”
“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 con- tinue doing what they do best,” Seidman stated. “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
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an a ractive future for our employees, customers and vendors.”
Peter Morrow, Managing Director at Sycamore Partners, added, “This trans- action, which follows NBG’s purchase of Cheyenne Products a year ago, re ects Sycamore’s con dence 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 capabili- ties. We look forward to continuing our support of NBG and its team as they execute on this growth strategy.”
Baird served as nancial advisor to Quoizel and Houlihan Lokey served as nancial advisor to NBG Home. Terms of the Quoizel acquisition were not disclosed.
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