Kitchen electrics supplier Capital Brands has been acquired by private equity firm Centre Lane Partners, HomeWorldBusiness.com has learned.
Richard Krause has been named Capital Brands CEO. He most recently was with South Carolina-based Confluence Outdoor, a domestic manufacturer of kayaks, canoes and related accessories. He has also held leadership positions with then-Newell Rubbermaid, ConAgra Brands, Sun Capital Partners and Fiskars Group, among others.
In an interview with HomeWorld, Krause said the company for the foreseeable future will maintain its headquarters in Los Angeles. While noting that it’s too early in the process to discuss long-term plans, he did say the company is currently working to fill key top management positions.
Based in New York City, Centre Lane Partners is focused on investments in North American middle market companies with revenues between $20 million and $500 million that have leading market positions and sustainable competitive advantages in their respective niches, according to information on its website.
The company’s portfolio includes more than a dozen companies across a range of industries such as biomedical solutions, online affiliate marketing, commercial cookware and bakeware products, home decor and fragrance and casual dining.
Capital Brands has long been known for its assortment of blending appliances sold under the Magic Bullet, NutriBullet and Baby Bullet brands to retailers including Amazon, Bed Bath & Beyond and Costco.