PRIVATE EQUITY FIRM MONOMOY CAPITAL PARTNERS ACQUIRED women’s apparel cataloger Casual Living USA in February. Terms of the deal were not disclosed.
Monomoy plans to consolidate Casual Living into its $225 million 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.
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 to $100,000; it sells its products through catalogs (52% of sales) and its Website (48% of sales). Casual Living had been owned by Thompson Group, which includes Thompson Cigar and Linen Source.
Monomoy partner Daniel Collin says Casual Living’s owners decided to exit the business. Investment firm Tully & Holland advised them on a deal.
Collin says Casual Living’s operations will eventually be moved to Boston Apparel’s distribution centers in West Bridgewater and Taunton, MA.
Monomoy created Boston Apparel in July 2008 after it bought the Missy division of multititle apparel mailer Redcats USA, which included Chadwick’s, Metrostyle and Closeout Catalog Outlet. Casual Living marks the unit’s first add-on acquisition.