Sun Capital Partners has acquired National Tree Company, an e-commerce wholesaler of seasonal and holiday decorations.
National Tree Company’s (NTC) products, totaling more than 4,500 SKUs, include lit and unlit artificial Christmas trees, wreaths and garlands; as well as holiday decorations for Easter, Independence Day and Halloween. Other products include indoor and outdoor artificial bushes and topiaries.
NTC was founded in 1990 by Sal Puleo, Sr., he passed away in March 2018, and is today led by his three sons – Joe, Sal, and Rich Puleo. The company is headquartered in Cranford, New Jersey.
“The Puleo family has done a tremendous job with National Tree Company, achieving impressive market share and consistent growth,” said Marc Leder, co-CEO of Sun Capital. “This is a great opportunity for Sun Capital to work with the Puleo family to invest in the growth of the business. We believe National Tree has the dropship capabilities and customer relationships to expand its product range both organically and through strategic acquisitions.”
According to Sun Capital, NTC is one of the largest domestic wholesalers of artificial Christmas trees. The company was recently awarded “Best Artificial Christmas Trees of 2019” by Better Homes & Gardens and has won other “Best of” awards from organizations including Wirecutter, House Beautiful, Business Insider, The Today Show, Good Housekeeping, and Bob Vila.
“We were attracted to National Tree Company’s strengths in design, procurement, and dropship fulfillment—a comprehensive capability you don’t often find,” said Matthew Garff, a managing director at Sun Capital. “National Tree Company’s sourcing and logistics capabilities span the entire products’ value chain, allowing the company to partner with online retailers and provide customers a wide assortment of product choices quickly and economically.”
Sun Capital invests in leveraged buyouts, equity, and debt in companies that can benefit from its in-house operating professionals and experience. The firm has invested in and managed more than 375 companies worldwide with combined sales in excess of $50 billion since its inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, and an affiliate office in London.
© 2019 Private Equity Professional | November 25, 2019
