Marquee Brands Acquires Sur La Table® - Further Expanding as a Leader in the Home and Culinary Industries
NEW YORK, Aug. 13, 2020 /PRNewswire/ -- Marquee Brands LLC, a leading global brand owner, marketer and media company, announced today that it has signed a definitive purchase agreement to acquire the SUR LA TABLE brand and all related intellectual property. The acquisition will further build upon the Home and Culinary portfolio within Marquee Brands, complementing and lending new strategies and verticals in addition to unique product opportunities to its leading Martha Stewart® and Emeril Lagasse® brands.
"Sur La Table is a beloved brand which stands for quality. It complements our strong Home and Culinary portfolio. Its storied legacy along with its multi-channel platform featuring experiential brick and mortar stores, a thriving e-commerce business, and unparalleled education offerings presented an incredibly compelling opportunity. We believe a revitalized Sur La Table will thrive in a post-Covid-19 retail environment," said Carolyn D'Angelo, President of the Home Division at Marquee Brands.
This marks the 12th brand in Marquee's portfolio increasing its reach to nearly $3 billion in annual retail equivalent sales. Marquee Brands is owned by investor funds managed by Neuberger Berman.
Sur La Table was founded in 1972 and quickly became a preeminent brand and curator of the finest culinary products and tools to professional and home chefs alike. In addition to serving as a critical retailer to global brands in the sector, Sur La Table is also the largest provider of non-degree cooking schools in the United States with over 650,000 students growing at 19% per year serving as a pioneer in experiential retail and unprecedented customer loyalty.
Marquee Brands has tapped CSC Generation for a long-term partnership in developing innovative products and for their operational expertise in the home sector across retail stores and data driven ecommerce solutions. CSC Generation was founded in 2016 as a joint venture between Justin Yoshimura and Altos Ventures & Panasonic and has been a key player in the continuity of several historic brands. "Sur La Table is arare gem in its class and one we have been watching for some time. It's an honor to be part of its future and we couldn't be more excited about working with Marquee Brands as a true leader in brand building and growth," said Justin Yoshimura, Founder & CEO of CSC Generation.
Marquee Brands was founded in 2014 and has quickly become renown for responsible brand stewardship coupled with an inventive approach to brand building and digital innovation. "We are selective and careful to only add brands to our portfolio that serve a real purpose, bring joy into the lives of our customers, and help them celebrate life's special moments. In partnering with industry leaders like CSC Generation, Sur La Table will offer customers a seamless omnichannel shopping experience guided by knowledgeable staff, technology, and one-of-a-kind offerings. We've strived to lead the charge in developing innovative, intuitive customer centered shopping experiences to further engage and inspire. With this acquisition, and CSC as a partner, we continue our journey in pushing the boundaries of retail," said Michael DeVirgilio, President of Marquee Brands.
Marquee Brands was advised by Jim Langdon and Mike Miller of Moore & Van Allen.
About Marquee Brands
Marquee Brands is a leading global brand owner, marketer and media company. Owned by investor funds managed by Neuberger Berman, one of the world's leading employee-owned investment managers, Marquee Brands targets high quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in various consumer product segments with the goal of expanding their reach across retail channel, geography and product category while preserving the brand heritage and enhancing the ultimate consumer experience. Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees and manufacturers through engaging, impactful strategic planning, marketing, and ecommerce. www.marqueebrands.com
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 24 countries, Neuberger Berman's diverse team has 2,300 professionals. For six consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). The firm was awarded an A+ in every category in the latest 2019 PRI report for our approach to ESG integration across asset classes. The firm manages $357 billion in client assets as of June 30, 2020. For more information, please visit our website at www.nb.com.
CSC Generation Holdings is a technology start-up that enables brands to become "digitally native." Over the next decade, CSC Generation's goal is to reach $10B in revenues by helping retailers survive. CSC Generation is founded by Justin Yoshimura and backed by world class investors including Altos Ventures and Panasonic.
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SOURCE Marquee Brands