Makes Strategic Investment in Leading Children’s Apparel Brand
Castanea Partners announced today that they have teamed with Dorset Capital to recapitalize Hanna Andersson, a leading multi-channel children’s apparel and accessories brand.
Founded in 1983 and headquartered in Portland, Oregon, the company designs, sources and markets its clothing under the Hanna Andersson brand name (www.hannaandersson.com). Hanna Andersson generates exceptional customer loyalty through its commitment to high quality, functionality, durability, and colorful design. In addition to its core catalog and web site, Hanna operates fifteen retail stores.
In 2001, Hanna Andersson was purchased by private equity firms Weston Presidio and Dorset Capital. In today’s transaction Castanea and Dorset partnered to acquire Weston Presidio’s stake in the company with plans to further build the Hanna Andersson’s distinctive brand.
“Dorset Capital has been a great partner and we are very pleased to have Castanea as a new investor. The Castanea team has tremendous operating experience in consumer products, direct marketing and specialty retail,” said Phil Iosca, President and CEO of Hanna Andersson. “They will be value-added partners and contributors to the next stage of our success.”
“Hanna is an exciting opportunity that fits our investment strategy,” said Robert Smith, Managing Partner of Castanea. “The management has built a strong brand with exceptional customer loyalty. The company is at a stage in its development where our experience and capabilities will add value as Hanna pursues its growth potential.”
Brian Knez, Managing Partner of Castanea notes, “We look forward to partnering with Hanna Andersson and Dorset Capital. We share a vision of opportunities to create value through enhancing and expanding the Hanna franchise.”
About Castanea
Castanea is a private equity firm that works in partnership with founders and management teams of innovative passion brands to grow their businesses through a combination of capital investment and operating expertise. We are focused on select consumer verticals including beauty, food and beverage, multi-unit services, and enthusiast lifestyle. We typically invest between $15 to $150 million of equity in minority or majority transactions. Our team of talented operating executives offers critical expertise in key verticals and functional areas, and provides our partner companies with strategic and tactical support. Castanea has more than $1 billion in assets under management and is currently investing from a $735 million fourth fund. For more information about Castanea Partners read our story.