M&A Deal Summary

Target Acquires CHEFS

On March 14, 2013, Target acquired e-commerce company CHEFS from JH Partners

Acquisition Highlights
  • This is Target’s 2nd transaction in the E-Commerce sector.
  • This is Target’s 4th transaction in the United States.
  • This is Target’s 1st transaction in Colorado.

M&A Deal Summary

Date 2013-03-14
Target CHEFS
Sector E-Commerce
Buyer(s) Target
Sellers(s) JH Partners
Deal Type Add-on Acquisition
Advisor(s) Janney Montgomery Scott LLC (Financial)
Perkins Coie LLP (Legal)

Target

CHEFS

Colorado Springs, Colorado, United States
website
CHEFS Catalog is a direct-to-consumer specialty retailer of top rated cookware, bake ware, cutlery, kitchen tools and cooking utensils aimed at inspiring home chefs to create delicious and new recipes.

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Buyer(S) 1

Buyer

Target

Minneapolis, Minnesota, United States

website


Category Company
Founded 1902
Sector Retail
Employees450,000
Revenue 109.1B USD (2023)
DESCRIPTION
View of Target's corporate headquarters in downtown Minneapolis, Minnesota.
View of Target's corporate headquarters in downtown Minneapolis, Minnesota.

Target is a general merchandise retailer serving the US market. The Target brand opened its first store in 1962 and currently operates more than 1,800 stores. Target was formerly known as Dayton Hudson Corp. which was originally founded in 1902. Target is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 4 of 9
Sector (E-Commerce) 2 of 3
Type (Add-on Acquisition) 3 of 8
State (Colorado) 1 of 1
Country (United States) 4 of 9
Year (2013) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-14 Cooking.com

Santa Monica, California, United States

Cooking.com is an on-line retailer focused on high quality cooking related products including: cookware, tableware, cookbooks, and specialty foods. Cooking.com has over 5,000 products in addition to creative content such as articles from prominent chefs, recipes, and cooking advice.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-06 DermStore Beauty Group

Manhattan Beach, California, United States

DermStore is a skin care e-commerce site in the United States with a comprehensive portfolio of prestige and professional products. The Company was founded in 1999 by a board certified dermatologist and features over 26,000 SKUs and 750 authorized brands such as SkinMedica, SkinCeuticals, Obagi and Dermalogica. The company recently launched two additional websites, hairenvy.com and blush.com, extending its reach to cosmetics and hair care.

Buy -

Seller(S) 1

SELLER

JH Partners

San Francisco, California, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

JH Partners LLC is a private equity firm. It typically invests in online direct marketing, business to business, online services, internet software and services, food products, beverages, consumer staples, advertising, media, consumer services. It seeks to invest between $10 and $300 million in revenues. JH Partners is a hands-on investor and desires to work closely with portfolio companies. JH Partners was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 11 of 19
Sector (E-Commerce) 2 of 2
Type (Add-on Acquisition) 3 of 6
State (Colorado) 1 of 1
Country (United States) 10 of 16
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-23 Alex and Ani

Cranston, Rhode Island, United States

Alex and Ani offers consumers fashionable lifestyle products through multiple retail channels, including corporate owned and branded retail stores, upscale department stores, small chains and independent retailers, as well as e-commerce. Alex and Ani was formed in 2004 and is based in Cranston, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-15 Frette Srl

Milan, Italy

Frette Srl is a provider of Italian luxury linen and home furnishings business. Frette blends contemporary design with Italian craftsmanship to create exquisitely styled, handcrafted linens and textiles that are supplied to the world’s most prestigious hotels, restaurants, private homes, airlines, and ocean liners. Frette operates 15 directly owned boutiques on some of the most exclusive shopping boulevards in Paris, Milan, Rome, New York, and Beverly Hills and is present in high-end department stores from Los Angeles to London and Moscow to Hong Kong.

Sell -