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Sage Capital Partners buys out Corral West Ranchwear
15 Dec '05
3 min read
Investment firm Sage Capital Partners L.P. (Sage Capital Partners) announced that it has acquired a controlling interest in Corral West Ranchwear (Corral West) from its management and shareholders.
In making the announcement, Sage Capital Partners, also announced that it has invested significant additional capital into Corral West to fund the future growth of its recently launched new store concept, Work Wear Depot. Corral West's management team will continue to own a substantial share of the company following the transaction.
In today's evolving retail climate, Corral West has exhibited strong same-store-sales growth of high-single to double-digit rates over the past few years.
Daniel Gardenswartz, Managing Director of Sage Capital Partners stated that these trends are expected to last over the foreseeable future, particularly given the current trend and popularity of high-fashion western-inspired apparel, footwear, and accessories.
The $750+ million western wear market is a lucrative and fragmented segment of the retail industry, one that historically has been under the radar of most institutional investors. They view Corral West as a well-capitalized, expertly managed player that is ideally suited to consolidate this relatively stable and predictable retail sector.
They are delighted to be partnering with two of the most talented and capable managers in the retail industry, Leslie Ball and Larry Hager. Dan Gardenswartz of Sage Capital Partners stated that they bring a combined 20 years of exceptional performance in the western and work wear industry, as well as several more decades of experience and success in the retail marketplace.
In making the announcement, Sage Capital Partners, also announced that it has invested significant additional capital into Corral West to fund the future growth of its recently launched new store concept, Work Wear Depot. Corral West's management team will continue to own a substantial share of the company following the transaction.
In today's evolving retail climate, Corral West has exhibited strong same-store-sales growth of high-single to double-digit rates over the past few years.
Daniel Gardenswartz, Managing Director of Sage Capital Partners stated that these trends are expected to last over the foreseeable future, particularly given the current trend and popularity of high-fashion western-inspired apparel, footwear, and accessories.
The $750+ million western wear market is a lucrative and fragmented segment of the retail industry, one that historically has been under the radar of most institutional investors. They view Corral West as a well-capitalized, expertly managed player that is ideally suited to consolidate this relatively stable and predictable retail sector.
They are delighted to be partnering with two of the most talented and capable managers in the retail industry, Leslie Ball and Larry Hager. Dan Gardenswartz of Sage Capital Partners stated that they bring a combined 20 years of exceptional performance in the western and work wear industry, as well as several more decades of experience and success in the retail marketplace.
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