Sun Capital Partners has closed its buy of Gem Shopping Network. No financial terms were disclosed. Based in Duluth, Georgia, Gem Shopping is a retailer that sells jewelry and gemstones mostly on its TV network.
We are pleased to announce that an affiliate of Sun Capital Partners, Inc. has completed the acquisition of Gem Shopping Network (“Gem Shopping” or “the Company”). The purchase price was bridged by an affiliate of Sun Capital Partners and the transaction closed 44 days after signing the LOI.
Gem Shopping is a 24-hour live TV network, specializing in the sale of unique colored gemstones and jewelry. Founded in 1995 in Duluth, Georgia, the Company offers one-off, usually single quantity jewelry in 14k-24k gold with colored gemstones, often with accent diamonds. Gem Shopping connects with its loyal and growing customer base through an engaging, interactive TV network that is broadcast via satellite, cable and over the internet, and reaches approximately 43 million U.S. households.
Sun Capital has strong experience in the fashion and consumer retail sector through current affiliated portfolio companies including The Limited, an iconic fashion retailer of high-quality, private-label apparel; Hanna Andersson, a leading multi-channel retailer of lifestyle branded apparel for children and families; Vince, a men’s and women’s apparel brand operating more than 20 stores; and Scotch & Soda, an apparel brand with more than 94 stores worldwide and more than 7,000 other sales points.
SUN CAPITAL OVERVIEW: Sun Capital Partners, Inc. is a pioneer in private equity investing, uniquely combining the financial skills and resources of a traditional private equity firm with the insight and expertise of a world class operating team. The firm focuses on market-leading companies that can benefit from our in-house professionals, resources, and expertise in their efforts to materially improve operating performance. Sun Capital affiliates have invested in more than 330 companies worldwide with combined sales in excess of $45 billion since our inception in 1995.