Investcorp acquires US kitchenware retailer Sur La Table

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 television 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, WA.

Sur La Table provides a broad selection of the best culinary brands and an assortment of innovative kitchenware products through 86 stores across the United States. It positions itself as an authority on all things cooking related, reaching its cooking enthusiast customers through a variety of channels each of which is a profitable platform in its own right. These include the retail stores, its website, a catalogue and social media such as Twitter and Facebook. In addition to selling kitchenware, the company provides fashionable cooking classes, running the largest culinary instruction program in the United States which teaches over 100,000 cooking enthusiasts a year. The stores also host book signings by some of the world's most famous chefs including Mario Batali, Bobby Flay, Jamie Oliver, Rachael Ray and Martha Stewart.

Mazin Al Khatib, Managing Director at Investcorp and regional head for the United Arab Emirates, said: "We believe that Sur La Table is poised to achieve significant growth, supported by its solid positioning in its existing markets, widespread geographical presence and successful online platform. We look forward to working with Sur La Table's management team and being part of its future growth story."

Jack Schwefel, CEO of Sur La Table, said: "I am very excited about our new partnership and our future growth opportunities with Investcorp. Sur La Table is the leading destination for those with a passion for cooking and a love for food, and will maintain the values that reflect our character and commitment to our customers, our employees and the communities in which we live and work."