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Target moves further into kitchenware with CHEFS Catalog purchase |
03.15.2013
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Private equity firm JH Partners, LLC has agreed to sell its portfolio company CHEFS Catalog to Target.
A direct-to-consumer specialty retailer of top-rated cookware, bakeware, cutlery, kitchen tools and utensils, CHEFS Catalog was acquired by JH Partners from The Neiman Marcus Group in 2004.
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Upon completion, Target will combine CHEFS Catalog with the acquired assets of Cooking.com to create a new, wholly-owned subsidiary aimed at expanding Target'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."
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