The US kitchenware chain Sur La Table has been acquired by Investcorp – a global provider and manager of alternative investment products – from the Behnke family and investment firm Freeman Spogli.
Sur La Table was founded in 1972, the Behnkes buying their first store in 1995. They significantly expanded the business, adding new shops, developing the cookery classes programme for customers and launching the company’s first e-commerce site. Under the new deal, terms of which are not disclosed, the Behnkes and Freeman Spogli will both remain as investors in the company.
With headquarters in Seattle, Sur La Table now has 86 stores throughout the US
as well as its catalogue, website and gift registry. The cookery know-how programme has also grown to be the largest of its kind in the US, and now teaches over 100,000 cooking enthusiasts a year how and what to cook.
“Sur La Table’s management team, led by CEO Jack Schwefel, has built a market-leading, multi-channel retailer with a unique product offering and a high level of customer service,” said Kevin Nickelberry, a managing director at Investcorp.
“We believe that Sur La Table is well positioned in its existing markets and has multiple opportunities for growth including new store expansion and e-commerce.”
Meanwhile, Schwefel said he was “very excited about our new partnership and our future growth opportunities”.