M&A Deal Summary

Kellwood Company Acquires Hanna Andersson

On June 14, 2007, Kellwood Company acquired apparel/textiles company Hanna Andersson from Castanea Partners for 175M USD

Acquisition Highlights
  • This is Kellwood Company’s 3rd transaction in the Apparel/Textiles sector.
  • This is Kellwood Company’s largest (disclosed) transaction.
  • This is Kellwood Company’s 3rd transaction in the United States.
  • This is Kellwood Company’s 1st transaction in Oregon.
Investment Fate
  • Hanna Andersson was divested to a consortium of buyers in 2008.
  • Hanna Andersson was sold to a consortium of financial buyers in 2016.

M&A Deal Summary
Date 2007-06-14
Target Hanna Andersson
Sector Apparel/Textiles
Buyer(s) Kellwood Company
Sellers(s) Castanea Partners
Deal Type Add-on Acquisition
Deal Value 175M USD

Target

Hanna Andersson

Portland, Oregon, United States
Hanna Andersson is a multi-channel children’s apparel and accessories brand. Hanna Andersson has offered high-quality, Swedish-inspired children's clothing. From its iconic striped sleepwear to everyday playwear and more, Hanna Andersson's broad product line is balanced across boys, girls and infants from newborn to 12 years old. The Company's clothing is clearly differentiated by unmatched quality, durability and style. Over the last decade, Hanna Andersson has grown from a highly successful catalog brand to become the most prominent and fastest growing premium brand in the children's specialty apparel category. With a successful omni-channel platform, Hanna Andersson has been generating double-digit annual revenue growth since 2010 through a combination of its heritage catalog business and attractive e-commerce platform, as well as 55 retail stores and 11 outlet locations. Hanna Andersson was founded in 1983 and is based in Portland, Oregon.

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Buyer(S) 1

Buyer

Kellwood Company

Chesterfield, Missouri, United States
Category Company
Founded 1961
Sector Apparel/Textiles
DESCRIPTION

Kellwood owns and licenses branded and private women's apparel. Products are sold primarily to specialty stores, department stores, catalog houses, and national chains. Brands include Sag Harbor, Kelty, Koret, XOXO, Phat Fashions, Vince and Baby Phat.

DEAL STATS #
Overall 3 of 6
Sector (Apparel/Textiles) 3 of 6
Type (Add-on Acquisition) 3 of 4
State (Oregon) 1 of 1
Country (United States) 3 of 5
Year (2007) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-09 Phat Fashions

New York, New York, United States

Phat Fashions LLC manufactures and markets men's wears.

Buy $140M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-02 Royal Robbins

Modesto, California, United States

Royal Robbins is a designer, manufacturer, marketer and retailer of outdoor and travel apparel. The company’s primary products include short and long sleeve shirts, hiking pants and shorts, sweaters, fleece, jackets, and accessories.

Buy -

Seller(S) 1

SELLER

Castanea Partners

Newton, Massachusetts, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 775M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Castanea Partners is a private equity firm that targets investments in established, small to mid-sized companies valued up to $250 million. The Firm looks for businesses with strong management and significant competitive advantages. Sectors of interest include publishing, information services, education/training, consumer brands, specialty retail, and marketing services. Castanea prefers control investment situations and looks to commit between $15 and $150 million per transaction. Castanea Partners was formed in 2001 and is based in Newton, Massachusetts.

DEAL STATS #
Overall 4 of 24
Sector (Apparel/Textiles) 1 of 5
Type (Add-on Acquisition) 2 of 13
State (Oregon) 1 of 1
Country (United States) 4 of 24
Year (2007) 3 of 3
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-21 Decision Resources

Burlington, Massachusetts, United States

Decision Resources LLC is a provider of research publications, advisory services, and consulting services to help clients shape strategy, allocate resources, and master their chosen markets. Decision Resources was formed in 1990 and is based in Burlington, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-12 Betsey Johnson

Rancho Dominguez, California, United States

Betsey Johnson is a premier designer, marketer, retailer and wholesaler of women's contemporary apparel, accessories and related products under the Betsey Johnson brand. Betsey Johnson markets its products primarily through 48 company owned retail stores, as well as through over 600 specialty boutiques and better department stores (including Bloomingdale's, Macy's, Neiman Marcus, and Nordstrom). The Company also licenses, under the Betsey Johnson brand, a portfolio of contemporary merchandise, including: handbags, footwear, lingerie, and fragrances.

Buy -
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