Sun Capital Partners, Inc. Acquires Lillian Vernon Corporation
May, 30 2006
Boca Raton, FL - Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments of market-leading companies, today announced that its affiliate, LV Catalog Holding Corp., has acquired Lillian Vernon Corporation (“Lillian Vernon”) from Direct Holdings Worldwide Inc., a diversified direct marketing holding company. Terms of the acquisition were not disclosed.
Lillian Vernon, headquartered in White Plains, New York, is a 55-year-old catalog and online retailer that markets holiday decor, gift, household, fashion accessory, and children's products. One of the largest specialty catalog marketers in the United States, Lillian Vernon specializes in personalization, mailing more than 100 million catalogs in 22 editions to over fifteen million households in 2005. Since 1951, more than 100 million orders have been shipped to Lillian Vernon customers. With the largest personalization department in the industry, Lillian Vernon offers 14 different kinds of personalization and personalizes 5 million products per year. Lillian Vernon, which was purchased in July, 2003 by Direct Holdings Worldwide, has expanded rapidly its investment in e-commerce as well as its catalog and direct selling businesses. Approximately, half of Lillian Vernon’s business is now conducted online.
Gary M. Talarico, Managing Director, Sun Capital Partners, Inc. stated, “We are excited about the acquisition of Lillian Vernon, one of the most powerful household names in direct marketing. According to a recent Opinion Research poll, more than 47 million Americans are familiar with the Lillian Vernon name. We look forward to assisting management in their continued efforts to expand Lillian Vernon's business by leveraging the strength of this terrific brand and the breadth of its distribution, both in print and online.”
About Lillian Vernon Corporation
Lillian Vernon Corporation is one of the largest specialty catalog marketers in the United States, marketing holiday decor, gift, household, fashion accessory, and children's products. Lillian Vernon publishes five catalog titles: Lillian Vernon, Lilly's Kids, Favorites, Personalized Gifts, and a sale catalog. The catalogs average 96 pages with more than 700 products in each edition. Founded in 1951, Lillian Vernon is a pioneer in offering personalization, a company trademark. With one of the largest personalization departments in the industry, customers make a personal statement at a reasonable cost.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 115 companies worldwide with combined sales in excess of $30.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, New York, London, and Shenzhen.
About Direct Holdings Worldwide, Inc.
Direct Holdings Worldwide, Inc. is a diversified direct marketing holding company. The company is the exclusive marketer of the Time Life brand on a global basis. Time Life is one of the most trusted and respected brands in the world of media and entertainment. Direct Holdings markets Time Life music, videos, DVDs, and books on television, at retail, and by telephone and direct mail. Direct Holdings has offices in the United States, Europe, Asia, and Australia.
For more information, please contact:
Gary M. Talarico
Managing Director
Sun Capital Partners, Inc.
(212) 588-9156
www.SunCapPart.com