NEW YORK — Golden Gate Capital on Monday said it has acquired women’s specialty catalogue firm Norm Thompson Outfitters for an undisclosed sum.
Founded in 1949, the three catalogues that Norm Thompson operates all cater to the growing Baby Boomer market. Norm Thompson Outfitters offers a wide selection of apparel and accessories through its catalogue, retail stores and the Internet; Sahalie offers activewear and outdoor apparel, and Solutions is geared toward home and personal care and accessories products.
The San Francisco-based private equity firm, which has $2.5 billion in capital under management, specializes in acquisitions in the women’s specialty market that have a focus on the direct channel. The financial firm, which also owns Spiegel and Newport News, in November acquired Appleseed’s and The Tog Shop, as well as Draper’s & Damon’s. With the Norm Thompson catalogue titles now under its umbrella, Golden Gate will have annual revenues in excess of $700 million, the financial firm said.
“With the addition of Norm Thompson, Solutions and Sahalie, we have significantly increased our offerings to this rapidly growing [Baby Boomer] demographic. Furthermore, adding Norm Thompson’s three brands to our five existing titles creates ever-greater opportunities for each to benefit from the scale and expertise of the group,” said Stefan Kaluzny, managing director at Golden Gate, in a statement.
Norm Thompson, headquartered in Hillsboro, Ore., will continue to operate at its current locations in Oregon, New Hampshire and West Virginia.