Catalog Holdings, a portfolio company of Golden Gate Capital, has sold its interest in Spiegel Brands Inc. – owner and operator of Spiegel, Newport News, Carabella and AB Lambdin brand names — to an investor group led by Granite Creek Partners in an undisclosed deal.
“The sale of Spiegel was a natural step in managing our portfolio of brands as we had grown profitability dramatically and produced very attractive investment returns over our four years of ownership,” said Stefan Kaluzny, managing director at Golden Gate Capital in a statement.
This comes as Orchard Brands Division, a division of Catalog Holdings LLC, acquired Crosstown Traders, a division of Charming Shoppes Inc. Crosstown Traders operates various catalog and e-commerce sites that target baby boomers including: Old Pueblo Traders, Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Intimate Appeal, Monterey Bay Clothing Company and Coward Shoes.
In 2004 Golden Gate bought Spiegel Catalog Holdings Corp. on July 19 after Spiegal Inc. declared bankruptcy.
