September 20, 2017 – Sycamore Partners today announced that John A. Lederer, former President and
Chief Executive Officer of US Foods, has joined the firm as a Senior Advisor. In this capacity, he
will serve as the Executive Chairman of the Board of Directors of Staples, Inc. and its newly
formed and independent United States and Canadian Retail Businesses.
“We are thrilled to have John join the Sycamore Partners team at this exciting time in the firm’s
continued growth and development,” said Stefan Kaluzny, Managing Director of Sycamore Partners.
“John has significant institutional knowledge of both distribution and retail businesses across the
United States and Canada, which is particularly relevant given our recent acquisition of Staples. I
am confident that John’s leadership experience and business acumen will be tremendously beneficial
to create value and deliver exceptional products, services and expertise that enable businesses to
Mr. Lederer said, “I am honored to join Sycamore Partners as a Senior Advisor and Executive
Chairman at Staples. Sycamore Partners has an outstanding reputation for driving profitable growth
across its leading retail and consumer brands. I look forward to working closely with my new
colleagues as we focus on building on the great legacy that has been created at Staples.”
As previously announced, Sycamore Partners completed its acquisition of Staples, Inc. on September
About John A. Lederer
Mr. Lederer was most recently associated with Oak Hill Capital, advising it on acquisitions in the
retail and consumer goods sectors, and serving on the board of several of its portfolio companies.
From 2010 to
2015, Mr. Lederer served as the Chief Executive Officer of US Foods, one of the largest food
service distributors in the United States, where he led a comprehensive rebranding of the company.
From 2008 to 2010, he was Chairman and Chief Executive Officer of Duane Reade, where he led a major
transformation of the Duane Reade pharmacy chain in just two years, culminating in its sale to
Walgreens. Prior to Duane Reade, Mr. Lederer spent 30 years at Loblaw Companies Limited, Canada’s
largest retail food distributor, where he served in a variety of senior leadership positions
including President from 2000 to 2006. Mr. Lederer serves on the Board of Directors of US Foods,
Maple Leaf Foods and Walgreens Boots Alliance. Mr. Lederer holds a Bachelor of Arts degree in
Economics from York University.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York specializing in consumer and retail
investments. The firm has more than $3.5 billion in capital under management. The firm's strategy
is to partner with management teams to improve the operating profitability and strategic value of
their businesses. The firm's investment portfolio currently includes Belk, Coldwater Creek, EMP
Merchandising, Hot Topic, MGF Sourcing, NBG Home, Nine West Holdings, Staples, Inc., Staples’
States Retail Business, Staples’ Canadian Retail Business, Talbots, The Limited and Torrid.
About Staples, Inc.
Staples brings technology and people together in innovative ways to consistently deliver products,
services and expertise that elevate and delight customers. Staples is in business with businesses
and is passionate about helping businesses work better. Headquartered outside of Boston, MA,
Staples, Inc. operates primarily in North America. More information about Staples is available at
Contact for Sycamore Partners:
Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
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.