JH Partners To Sell CHEFS Catalog To Target
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130314:nPnNY77321 SAN FRANCISCO, March 14, 2013 /PRNewswire/ -- JH Partners, LLC, a private equity firm specializing in investing growth capital in consumer-focused companies, today announced it has agreed to sell its portfolio company CHEFS Catalog to Target Corp. (NYSE: TGT). Financial terms of the transaction, which is expected to close within 30 days, were not disclosed. CHEFS Catalog is a leading direct-to-consumer specialty retailer of top-rated cookware, bake ware, cutlery, kitchen tools and cooking utensils aimed at inspiring home chefs to create delicious and new recipes. JH Partners acquired Colorado Springs, Colorado-based CHEFS Catalog from The Neiman Marcus Group, Inc. in 2004. Upon completion of the transaction, Target will combine CHEFS Catalog with the acquired assets of Cooking.com to create a new, wholly-owned subsidiary of Target aimed at expanding the company's presence in the growing cooking and kitchenware market. Both brands will continue to operate under their current names. "We're delighted with the outcome of our work with CHEFS Catalog's management team, led by Tim Littleton," said Michael John, partner at JH Partners. "CHEFS and the JH Partners teams have worked together to transform Chefs from a single channel catalog company into a true multichannel retailer of great cookware with exceptional revenue and margin growth driven by our online business." Janney Montgomery Scott and Perkins Coie advised JH Partners on the sale of CHEFS Catalog. About CHEFS Catalog CHEFS Catalog is a leading direct-to-consumer specialty retailer of top rated cookware, bake ware, cutlery, kitchen tools and cooking utensils aimed at inspiring home chefs to create delicious and new recipes. Founded in 1979 and based in Colorado Springs, Colorado, CHEFS operates www.chefscatalog.com, and sells leading brands, including All-Clad, Cuisinart, Le Creuset, KitchenAid, Scanpan, Wusthof and more. About JH Partners, LLC Based in San Francisco, JH Partners, LLC, specializes in investing capital in growth-oriented, middle-market consumer products and services companies. JH Partners, LLC distinguishes itself among private equity firms with its decades of relevant operating experience among its professional investment team and the deep understanding of consumer markets that comes with the firm's narrow investment focus. Among the firm's 24 current and past investments are such well-known brands as Bare Escentuals, J.McLaughlin, Frette, Alex and Ani, Design Within Reach, Jurlique, and Peet's Coffee & Tea. JH Partners manages approximately $1 billion in private equity commitments. Additional information on JH Partners, LLC may be found at www.jhpartners.com. Contacts: Todd Fogarty Kekst and Company firstname.lastname@example.org 212-521-4854 Jeffrey Taufield Kekst and Company email@example.com 212-521-4815 SOURCE JH Partners, LLC
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