Target sweetens portfolio with Chefs Catalog purchase
SAN FRANCISCO — Target has agreed to buy Chefs Catalog from JH Partners, LLC, a private equity firm specializing in investing growth capital in consumer-focused companies.
Chefs Catalog is a leading direct-to-consumer specialty retailer of top-rated cookware, bake ware, cutlery, kitchen tools and cooking utensils including such brands as All-Clad, Cuisinart and Kitchenaid. JH Partners acquired Colorado Springs, Colorado-based Chefs Catalog from The Neiman Marcus Group, Inc. in 2004.
Upon completion of the transaction, Target will combine Chefs Catalog with the acquired assets of Cooking.com to create a new, wholly-owned subsidiary of Target aimed at expanding the company'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."