The cooking-equipment cataloger has been sold by the Neiman Marcus Group Inc. to Pikes Peak Direct Marketing, a new firm controlled by private equity company JH Partners LLC. Pikes Peak will be headed by catalog veteran Jon Medved, who also helped facilitate the deal.
Neiman Marcus expects to take a pre-tax loss of about $15 million of $17 million during its fiscal second quarter in connection with the sale, according to Dallas Business Journal.
Chef’s Catalog has annual sales of $75 million.
John Hansen, president of San Francisco-based JH Partners, said in a statement that the purchase is “consistent with our investment focus on growth-oriented middle market consumer products and services companies.
Elixer Advisors advised Neiman Marcus.
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