Golden Gate Capital has completed the acquisition of Haband Inc., a catalog, online and three-store retailer that focuses on the value-conscious, over-50 market. Golden Gate will add the company to its Catalog Holdings family of specialty retail brands.
The Catalog Holdings group has annual revenue of more than $1 billion and includes Spiegel, Newport News, Carabella, AB Lambdin, Norm Thompson, Solutions, Sahalie, Appleseed’s, Draper’s & Damon’s and The Tog Shop.
Haband was founded in 1925 by the Habernickel family and is headquartered in Oakland, NJ. Golden Gate reports that Haband will continue to operate at its current locations including its distribution center in Eatonton, GA, its call center in Athens, GA, and its mail processing center in Peckville, PA.
“With the addition of Haband, we have significantly increased our offerings to the aging baby boomer demographic and are now the largest direct retailer serving this rapidly growing segment of the population,” says Stefan Kaluzny, managing director at Golden Gate Capital.
Golden Gate Capital acquired Newport News in June 2004, Spiegel in July 2004, Appleseed’s and Draper’s & Damon’s in November 2005, Norm Thompson, Solutions and Sahalie in March of this year, and Carabella and AB Lambdin in September. Golden Gate reports that it plans to seek additional acquisitions of similar brands. Financial terms of the transaction were not disclosed.
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