Bahrain-based Investcorp has acquired U.S. kitchenware retailer Sur La Table from the Behnke family and investment firm Freeman Spogli & Co., Reuters reported Tuesday. Terms of the deal were not released. Sur La Table is based in Seattle and has about 86 stores across the country. The Behnke family and Freeman Spogli & Co. remain investors in the company, though their stakes were not disclosed.
(Reuters) – Bahrain-based investment manager Investcorp said on Tuesday it had acquired U.S. kitchenware retailer Sur La Table from the Behnke family and investment firm Freeman Spogli & Co.
Investcorp did not disclose a value for the deal. Sur La Table, headquartered in Seattle, has around 86 stores across the United States, Investcorp said in a statement.
Both the Behnke family and Freeman Spogli & Co will remain as investors in the company, Investcorp said.
Investcorp had assets under management of $11.9 billion as at end June 30. Its net income for fiscal year 2011 rose 37 percent, helped by the profitable sale of some of its investment holdings, the company said last month. (Reporting by Dinesh Nair; Editing by David Holmes)