New York—Investcorp, the Bahrain-based investment fund, along with Freeman Spogli & Co., a private equity firm, said Tuesday they agreed to acquire Totes Isotoner Corp. from MidOcean Partners and Bruckmann Rosser Sherrill & Co. Terms of the transaction were not disclosed.
“Totes Isotoner is a global market-leader with exceptional products, highly recognized brands and a stable platform for growth,” said Kevin Nickelberry, a managing director at Investcorp. “We look forward to partnering with Freeman Spogli, Doug Gernert and the entire Totes Isotoner management team as they seek to continue to grow through the introduction of innovative, high-quality products and further international expansion.”
Expanding International Footprint
Added Doug Gernert, president/ceo, said: “Investcorp and Freeman Spogli will serve as highly complementary partners for our company. We are very excited about our partnership and future growth opportunities and look forward to benefiting from their resources and expertise as we continue to provide retailers with a single point of contact for all their accessories needs.”
Founded in 1923 and headquartered in Cincinnati, Ohio, the Totes and Isotoner brands are among the most recognizable and trusted rain and cold weather accessories brands in the United States and Europe.
According to Investcorp., the company has a broad and diverse distribution footprint, enabling it to partner with marquee retailers across a variety of channels. The company has a significant international presence, selling its products throughout Europe with an emerging business in Asia.