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Investcorp, an asset management firm specialising in alternative investments, has acquired Sur La Table, a leading US kitchenware retailer.
It is also regarded as a ‘lifestyle brand’ offering its customers high quality products and equipment, as well as information and skills, relating to cooking and entertaining. This acquisition comes at a time when the culinary industry in the US, and around the world, is growing rapidly.
Cooking and entertaining at home is becoming an important part of modern life, especially among the middle and high income classes who equip their homes with top quality kitchenware and accessories, attend cooking classes and follow popular TV shows about food and cooking.
Sur La Table was acquired from the Behnke family and investment firm Freeman Spogli & Co who will both remain as investors in the company. It has its headquarters in Seattle.
“Sur La Table’s management team has built a market leading, multi-channel retailer with a unique product offering and a high level of customer service,” said Mohamed Al Shroogi, Investcorp’s president of Gulf business. “We believe that Sur La Table is well positioned in its existing markets and has multiple opportunities for growth including new store expansion and e-commerce.”
