Monomoy Capital Partners, L.P., has acquired Casual Living U.S.A., Inc. from its family owners. Terms of the transaction were not disclosed.
Casual Living, which is currently based in Tampa, counts women between the ages of 45 and 60 with average household incomes of $75,000 to $100,000 among its customers. Casual Living sells just over half of its products through direct-mail catalogs, with the remainder of its sales generated through its Web site.
Monomoy will consolidate business operations of Casual Living into its Boston Apparel Group operations, a unit that currently includes the Chadwicks and metrostyle brands. Boston Apparel operates a warehouse and distribution center in Taunton, MA and is headquartered in West Bridgewater, MA.
Monomoy will incorporate Casual Living’s fulfillment, marketing, merchandising, and sourcing operations into Boston Apparel’s existing infrastructure in Massachusetts.
The Casual Living transaction is the first acquisition for Monomoy’s Boston Apparel operations since Monomoy created the business in 2008 through its purchase of Chadwicks and metrostyle from Redcats USA, Inc. In a statement Monomoy VP Nathan Richey said the company’s infrastructure is set up to allow further brand acquisitions.
Monomoy Capital Partners is a New York private equity fund that makes controlling investments in middle market companies. Its Boston Apparel unit currently employs 445 individuals in Taunton and West Bridgewater, MA.
