Nonantum has recapitalized Christianbook, an ecommerce retailer of Christian products and homeschool merchandise. No financial terms were disclosed for the transaction that was done in partnership with Christianbook founder and CEO Ray Hendrickson.
PRESS RELEASE
Nonantum has partnered with Founder & CEO Ray Hendrickson to recapitalize Christianbook, a leading e-commerce retailer of Christian products and homeschool merchandise. The Nonantum team developed a relationship with Ray and the management team ahead of the sale process and became their partner of choice based on a shared vision for growth and overall appreciation of the Company’s culture.
Investment Overview
Christianbook has been profitable and growing every year since its founding in the 1970s and sought a partner to enter its next phase of growth. Hendrickson and the Christianbook executive team chose Nonantum given Nonantum’s culture, shared vision for Christianbook, and track record of partnering with family-owned businesses to accelerate growth.
“We started Christianbook out of my garage over 40 years ago and are humbled by the impact we’ve made for our customers to date,” Hendrickson said. “We viewed Nonantum as the perfect partner to grow the business and expand our base of devoted customers. Ever since the very first meeting, we have been strategizing with Nonantum on new sales channels, marketing strategies, and ways to strengthen our outstanding operations.”
Nonantum Managing Partner Jon Biotti believes Christianbook is well prepared to grow meaningfully while maintaining its unique culture and intimate customer relationships, noting that “the Hendricksons have built a truly special culture, with a family-like relationship with its employees and its customers. We are excited to be a part of that family.”
Business Description
Christianbook is a leading e-commerce retailer and the trusted provider of “Everything Christian for Less” to its loyal customer base, focusing on affordable, high-quality products. Christianbook utilizes its best-in-class eCommerce platform, distribution facilities, and scale in procurement to offer over five hundred thousand SKUs, including fiction & non-fiction books, Bibles, gifts, apparel, and audio/visual media. Christianbook’s best-in-class pricing and customer experience has helped the Company grow its revenue every year of operation while maintaining many 20+ year-old customer relationships, resulting in over two million customers served annually.
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