Confirming recent media reports, Marquee Brands LLC, a leading global brand owner, marketer and media company, 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 for its 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, according to the company. Marquee Brands is owned by investor funds managed by Neuberger Berman.
Marquee Brands said it has also 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.
“Sur La Table is a rare 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 and CEO of CSC Generation.
In July, Sur La Table filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to consummate a restructuring and going-concern sale of the company, subject to court approval.
Michael DeVirgilio, president of Marquee Brands, added, “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.”