Ronald Boire, CEO of Sears Canada, will take the top post at the bookseller in September, and current CEO Michael Huseby will become executive ...
The deal brings together two sellers of party favors.
Gart Capital Partners, the private equity firm and Swoozie’s owner that announced the deal, did not disclose terms. XMS Capital Partners advised Beau-Coup in the transaction.
The merged companies will retain their brands, employees and leadership. Beau-Coup CEO Thomas Cole and Swoozie’s CEO Kelly Plank-Dworkin will serve as co-CEOs of the combined operation.
The web-only Beau-Coup launched in 2002, while Swoozie’s debuted in 2009 and operates seven stores through the Southeast along with Texas and Colorado.
“Swoozie’s and Beau-Coup are a natural fit for each other,” says Gart Capital Partner’s Tom Gart. “Both companies have been successful in filling a retail niche for specialized products related to special occasions and entertaining. By bringing the two companies together and combining experience and synergies, both brands will have a state-of-the-art digital business, outstanding merchandising expertise, and a strong bricks-and-mortar expansion capability.”
According to the 2013 Top 500 Guide, Beau-Coup’s sales increased nearly 10% year over year in 2012, to an estimated $18.7 million. Its e-commerce site will sell Swoozie’s goods, Gart says.