Webster Capital has acquired an equity interest in Lifestyle Brands, LLC, the apparel and consumer products division of Margaritaville Enterprises.
Lifestyle Brands is a licensee for all non-food and beverage consumer products of Margaritaville, a brand inspired by the lyrics and lifestyle of singer, songwriter and author, Jimmy Buffett. Lifestyle Brands designs and supplies women’s and men’s apparel and swimwear, and other consumer products, including home goods, outdoor furnishings, and recreational merchandise. The company’s products – marketed under Margaritaville, LandShark, St. Somewhere, License to Chill, and It’s Five o’Clock Somewhere – are available through multiple retail channels including specialty department stores in the US, as well as through Home Shopping Network, Frontgate and online at www.margaritavillestore.com.
“We are thrilled about this opportunity to partner with Margaritaville,” said Donald Steiner, a managing partner at Webster Capital “I have been a fan for many years and appreciate the enthusiastic and broad following for this beach lifestyle brand that appeals to consumers across many demographics. We love Margaritaville’s products and believe there is a huge opportunity to expand distribution and brand penetration.”
“We are excited to partner with Webster Capital, a firm with great expertise in the lifestyle apparel and consumer products business, which shares our focus on growth, quality and fun,” said John Cohlan, CEO of Margaritaville Enterprises.
Webster Capital invests in branded consumer, business-to-business, and healthcare services companies with EBITDAs from $3 million to $15 million and transaction values from $20 million to $100 million. At present, Webster has $600 million under management and is currently investing its third fund which closed in 2014 with $400 million in capital commitments. The firm was founded in 2003 and is based in the Boston suburb of Waltham (www.webstercapital.com).
Margaritaville Enterprises operations include consumer products, restaurants, retail shops, hotels, resorts, and media. The Margaritaville brand, including all of Enterprises’ divisions, generates brand-wide sales of approximately $1.4 billion annually. Margaritaville Enterprises was founded in 1977 and is based in Orlando (www.margaritaville.com).
Ropes & Gray (www.ropesgray.com) was the legal advisor to Webster Capital.
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