Webster Capital has acquired a stake in Lifestyle Brands LLC, Margaritaville‘s apparel and consumer products unit. No financial terms were disclosed.
PRESS RELEASE
Waltham, MA (July 11, 2016) — Webster Capital is pleased to announce that it has partnered with Margaritaville® to acquire a stake in Lifestyle Brands, LLC, the apparel and consumer products division of Margaritaville.
Lifestyle Brands, LLC is now the premier licensee for all non-food and beverage consumer products of Margaritaville, the global brand inspired by the lyrics and lifestyle of Jimmy Buffett. The company designs and supplies an impressive line of women’s and men’s apparel, swimwear, and accessories that satisfy the yearning for a leisurely escape. Margaritaville also licenses the brand for other consumer products, including home goods, outdoor furnishings, recreational merchandise and more.
The company’s products are marketed under the Margaritaville name, as well as a suite of related brands, including LandShark, St. Somewhere, License to Chill and It’s Five o’Clock Somewhere. Margaritaville’s products are available through multiple retail channels including wholesale, specialty and department stores in the U.S., as well as through HSN, Frontgate and online at www.margaritavillestore.com.
“We are excited to partner with Webster Capital, a firm with great expertise in the lifestyle apparel and consumer products business, which shares our focus on growth, quality and fun,” said John Cohlan, CEO of Margaritaville Enterprises.
“It is an exciting time for us, as we prepare to debut our new women’s swimwear and resort apparel collection at this year’s Miami SwimShow,” said Joe Laurita, CEO of Margaritaville Apparel. “This new partnership allows our brand to continue pursuing key growth initiatives and deliver the everyday fun and escapism our customers have come to expect from Margaritaville.”
“We are thrilled about this opportunity to partner with Margaritaville,” said Donald Steiner, Webster Capital Managing Partner. “I have been a fan for many years and appreciate the enthusiastic and broad following for this beach lifestyle brand that appeals to consumers across many demographics. We love Margaritaville’s products and believe there is a huge opportunity to expand distribution and brand penetration.”
Ropes & Gray LLP acted as legal advisor to Webster Capital.
The Margaritaville brand, including all of Enterprises’ divisions, generates brand-wide sales of approximately $1.4B annually. For additional information, please visit www.margaritaville.com.
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm with over $600 million of assets under management which invests in the branded consumer and healthcare services industries. Webster typically focuses on companies with transaction values in the range of $30 – $100 million. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital.
About Margaritaville Enterprises
Margaritaville is a global brand inspired by the lyrics and lifestyle of singer, songwriter and author, Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation. Comprised of consumer products, restaurants, retail shops, hotels, resorts, media including Radio Margaritaville on Sirius/XM, Margaritaville delivers a tropical experience where anyone can enjoy the sights, sounds and tastes of their favorite destination regardless of their current latitude. Margaritaville, a state of mind since 1977.
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