(Catalog Age) Although previous reports indicated that the Sundance Catalog Co. had last week received a capital infusion from two private equity firms, sources confirm that the company has been sold. Actor and Sundance founder Robert Redford and Sundance Catalog CEO Bruce Willard together sold the $70 million business on July 2 to a partnership of Boston-based Webster Capital and New York-based ACI Capital for an undisclosed amount.
According to reports, the deal is valued between $20 million and $40 million. Willard, the founder and former president of apparel catalog The Territory Ahead, had bought a controlling 50% share of the Sundance catalog business from Redford in July 2002 and ran the company until the sale. The new owners were working with an executive search firm to find a replacement at press time, Willard said.
Redford, who founded the Sundance Catalog 15 years ago, could not be reached for comment. The book sells apparel, accessories, home d
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