Private equity firm Monomoy Capital Partners has acquired women’s apparel cataloger Casual Living U.S.A. Terms of the deal were not disclosed.
According to the Feb. 16 announcement, Monomoy plans to consolidate the business operations of Casual Living into its Boston Apparel Group platform. Boston Apparel Group is a West Bridgewater, MA-based catalog and Internet retailer of women’s value-priced apparel and accessories.
Monomoy partner Daniel Collin says Casual Living’s owners decided to exit the business and investment firm Tully & Holland advised them on a deal. “Monomoy believes that Casual Living complements the company’s existing brands and allows them to leverage their low cost infrastructure to grow the business.”
Based in Tampa, FL, Casual Living markets “casuals with a twist” to women ages 45 to 60 with an average household income of $75,000-$100,000. Casual Living sells its products through catalogs (52% of sales) and its Website (48% of sales).
Collin says Casual Living will continue to offer “the same great value it has consistently provided its customer base.” Over time, he adds, operations will be moved to Boston Apparel’s warehouse and distribution centers in West Bridgewater and Taunton, MA.
Monomoy created Boston Apparel in July 2008 after it purchased the Missy division of multititle apparel mailer Redcats USA, which included Chadwick’s, Metrostyle, and Closeout Catalog Outlet.
The Casual Living transaction marks the first add-on acquisition for Boston Apparel in two years. Boston Apparel did $225 million in total sales in 2009, according to Collin.