Ron Frasch, the former president of Saks Fifth Avenue, has joined Castanea Partners as an Operating Partner focusing on luxury products and services.
“Ron is a world-class merchant and a talented and experienced business executive. This is a rare skill set and we’re very excited to add Ron to the Castanea team,” said Brian Knez, Managing Partner of Castanea. “As a firm, we are focused on bringing unique operating experience and insight to our portfolio companies and Ron’s extensive knowledge and network in luxury goods and services will add significant value to our existing portfolio and help us identify exciting new opportunities for investment.”
Prior to joining Castanea, Mr. Frasch was President and Chief Merchandising Officer at Saks Fifth Avenue until the sale of the company to Hudson’s Bay Co. in 2013. Previously, he was CEO and President at Bergdorf Goodman.
“I am very honored to be joining Castanea,” said Mr. Frasch, “and to have the opportunity to be working closely again with Brian Knez and Rob Smith, both founders of Castanea, and to identify and partner with exceptional small and mid-size companies in the luxury women’s and men’s apparel, accessory, shoe, and jewelry sectors. . I look forward to collaborating with creative entrepreneurs and management teams to build successful businesses with Castanea Partners.”
Castanea Partners invests from $15 million to $75 million in companies that operate in the consumer brands, marketing services, and information services sectors. Castanea participates in leveraged buyouts, growth and acquisition equity investments, and operationally challenging situations. The firm is currently investing from its third fund, a $500 million fund that targets companies with enterprise values up to $250 million. Castanea is headquartered in Newton, MA (www.castaneapartners.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-3-14
