ACON Investments has recapitalized and acquired La Vergne, Tennessee-based Bargain Hunt, an extreme discount retailer. No financial terms were disclosed.
WASHINGTON, Feb. 11, 2020 /PRNewswire/ — ACON Investments, L.L.C. and its affiliates (“ACON”) announced the recapitalization and acquisition of Bargain Holdings, L.L.C. (“Bargain Hunt”), an extreme discount retailer in the southeastern region of the U.S.
Founded in 2004, Bargain Hunt is headquartered in La Vergne, Tennessee with 90 locations in Tennessee, Ohio, Indiana, Kentucky, North Carolina, South Carolina, Georgia, Alabama, Mississippi and Arkansas. The Company offers name-brand merchandise at a 30-90% discount from retail across six major categories including apparel, home, hardlines, consumables, seasonal and furniture.
David Wachsman, CEO of Bargain Hunt, said, “The entire team is excited about our new partnership with ACON and the value they will bring to the Company. The transaction significantly strengthens our balance sheet, facilitates our growth plan and allows us to invest in great merchandise, technology and other important aspects of our business.”
“We are excited to partner with David and the Bargain Hunt management team to reposition the Company, accelerate growth and give Bargain Hunt the resources and support to execute management’s plan,” said Gino Dellomo, Partner at ACON.
“We believe Bargain Hunt represents a unique opportunity to invest in the extreme discount retail sector which we view as an attractive sub-sector within retail broadly. We plan to bring ACON’s experience and expertise to the exciting next phase for the Company,” added Ken Brotman, a Founding Partner of ACON.
Terms of the transaction were not disclosed.
About Bargain Hunt
Bargain Hunt is an extreme value retail chain, based in La Vergne, TN, that offers quality name-brand merchandise at a 30-90% discount from the nation’s largest retailers and manufacturers. With 90 locations throughout the southeastern region of the U.S., Bargain Hunt provides savings on clothing, home goods and domestics, baby, toys, electronics, sporting goods, indoor and outdoor furniture and seasonal items. For more information, visit www.bargainhunt.com.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. Founded in 1996, ACON has responsibility for managing approximately $5.6 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.