Sycamore Partners today announced that it has completed its acquisition of Staples, Inc. (the “Company”).
"We are pleased to have completed this transaction and look forward to partnering with CEO Shira Goodman and the Staples management team as we seek to increase long-term profitability," said Stefan Kaluzny, Managing Director of Sycamore Partners. “With the support of its dedicated associates, Staples is well-positioned to leverage its iconic brand and leading competitive position to drive even greater value for its business-to-business and retail customers in the U.S. and Canada.”
“We are excited about the tremendous opportunities ahead for the Company and our talented associates,” said Shira Goodman, Chief Executive Officer and President, Staples, Inc. “We look forward to benefitting from Sycamore Partners’ retail and wholesale experience as we work together to deliver exceptional products, services and expertise that enable businesses to work better.”
As a result of the completion of the merger, the common stock of Staples will no longer be listed for trading on Nasdaq.
NEW YORK, April 27, 2017 /PRNewswire/ -- Sycamore Partners today announced that it has acquired NBG Home ("NBG"), a leading global designer, manufacturer and marketer of affordable home décor products from Kohlberg & Company, L.L.C.
NBG offers an extensive array of home décor products, including ready-made and custom framing, lighting, accent furniture, wall décor, and soft goods under a portfolio of leading brands. The company serves a wide variety of retail clients, including mass merchants, specialty stores, discount stores, home centers, warehouse clubs, and internet retailers.
"The NBG management team has built the market leader in affordable home décor through a relentless focus on serving their retail partners and end consumers," said Peter Morrow, Managing Director at Sycamore Partners. "We are excited about the opportunity to invest in an attractive niche of the consumer products industry and look forward to building NBG alongside its best-in-class management team."
"Across our numerous product categories and retail channels, NBG has maintained a distinct approach to business, relying on principles such as industry insight, innovation, and close partnerships with our customers," said Scott Slater, Chief Executive Officer of NBG Home. "We are confident that Sycamore will be the ideal partner to further develop NBG's strong culture and drive the company's future growth, both organically and through strategic acquisitions."
Seth H. Hollander, Partner of Kohlberg & Company, added, "We would like to thank Scott and all of the employees of NBG for their efforts and successes under our ownership. They transformed the business and created a truly unique company in the home décor industry."
Sawaya Segalas & Co., LLC served as financial advisor to NBG Home and Harris Williams & Co. served as financial advisor to Sycamore Partners.
NEW YORK, Feb. 24, 2017 /PRNewswire/ -- Sycamore Partners today announced that it has acquired The Limited's brand and other related intellectual property assets. The intellectual property was purchased through a competitive auction run by The Limited as part of its ongoing Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
Sycamore plans to reintroduce the brand to the marketplace at a later date and will communicate with The Limited's loyal customers about how to obtain the merchandise they know and love.