Sur La Table acquired by Investcorp
New York City — Sur La Table has been acquired by Investcorp, a global asset management firm. The Seattle-based retailer, which specializes in kitchen goods, operates 86 stores nationwide.
Investcorp acquired Sur La Table from the Behnke family and investment firm Freeman Spogli & Co., who will both remain as investors in the kitchen goods retailer. Terms of the deal were not disclosed. No management changes are expected.
"We believe that Sur La Table is well positioned in its existing markets and has multiple opportunities for growth including new store expansion and e-commerce." said Kevin Nickelberry, a managing director at Investcorp, which is based in Bahrain.
Industry experts speculated that the new owners would drive expansion. Sur La Table is on track to open nine stores this year, including its third location in Manhattan. The store will be the first of Sur La Table’s Big Apple units to offer the retailer’s signature cooking class program.
"Private-equity firms typically only buy retailers that they know they can grow, and this is definitely a chain that can grow," said Jeff Green, a Phoenix-based retail consultant, in The Seattle Times. "I’m sure you’ll see its expansion continue, and maybe even increase."
Investcorp’s past investments include luxury brands Gucci and Tiffany & Co.
Staples to offer Martha Stewart-branded office products
Framingham, Mass. — Staples has partnered with Martha Stewart Living Omnimedia to create a new line of home office items that have female appeal.
The line, to be called Martha Stewart Home Office, will be made by Avery Dennison Corp. and will include some 300 products. The items will make its debut in Staples stores in early 2012.
“To manage works in progress and keep accurate records, it helps to have a good system of organization and well-designed products that are as functional as they are beautiful,” said Martha Stewart, founder of Martha Stewart Living Omnimedia, in a statement. “I am happy to be working with Avery Dennison and Staples to offer consumers affordable, quality products that will inspire them to enhance, improve and brighten their home office environment.”
Toys ‘R’ Us to make more than 40,000 holiday hires
Wayne, N.J. — Toys “R” Us said Thursday that it will hire more than 40,000 employees to staff its U.S. stores and distribution centers this holiday season. In addition, employment opportunities will be available at the company’s 10 distribution centers, including the newest facility in McCarran, Nev.
Toys “R” Us’ 2011 holiday hires are in line with previous years, when the company hired between 35,000 and 45,000 seasonal workers.
Hiring for positions launched this week and continues through November.