Warburg Pincus, a global private equity firm focused on growth investing, has announced the acquisition Gabriel Brothers Inc., an off-price fashion and home retailer.
As part of the transaction, Alvarez & Marsal Capital, the company’s current majority owner, will exit its stake in the company. “Gabe’s is a leading retailer with a strong and growing customer base. As consumer preference continues to shift from traditional department stores to off-price retailers, we see a compelling market opportunity to grow the business through new store openings and expansion into new regions,” said Annette Rodriguez, Managing Director, Warburg Pincus.
Also Read – Apparel manufacturer Kellwood Company announces acquisition
Gabriel Brother operates 106 stores under the Gabe’s and Rugged Wearhouse banners across 11 states in the Mid-Atlantic and Southeast. Kurt Kaull, Managing Director, Alvarez & Marsal Capital believes that the company’s attractive value proposition, strong team and significant customer loyalty will serve as a strong basis for continued growth as Gabe’s transitions to new ownership.
