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Detwiler completes acquisition of Rugged Bear
12 Feb '10
2 min read
Detwiler Fenton Group, Inc. via a newly formed entity, The Rugged Bear Company, announced that it has completed the acquisition of The Rugged Bear, Inc.'s children's clothing business. The Rugged Bear is a leading designer and retailer of high-quality, affordable children's clothing and outerwear in the Northeast United States. Rugged Bear sells its products in 26 retail locations located in six states, as well as through its website.
The acquisition, which was led by Detwiler Fenton Group on behalf of a group of investors, represents the first transaction for the recently established Merchant Banking Group of Detwiler Fenton Group's primary operating subsidiary, Detwiler Fenton & Co. (“DFC”), a FINRA member broker dealer.
Commenting on the announcement, newly installed President and Chief Executive Officer of The Rugged Bear business, Garrett Larson, said “Over the last 30 years, The Rugged Bear has become one of the most well-known and highly respected retail brands in the New England area. This acquisition represents a unique opportunity for us to improve upon The Rugged Bear concept and expand our presence both within New England and, eventually, into other regions across the United States.”
Alan McDonough, the founder of The Rugged Bear, stated, "This transaction will allow The Rugged Bear to capitalize on the strengths of the new management group and continue to provide the high-quality, competitively priced products for which the company has been known for the past 30 years. We are thrilled that the wonderful tradition of The Rugged Bear will continue and thrive into the future.”
Alex Arnold, Executive Vice President of Detwiler Fenton, added, “We are extremely excited to work with Garrett Larson to leverage our expertise in the consumer and retail sector and propel the Rugged Bear brand to the next level in the retail marketplace.”
The acquisition, which was led by Detwiler Fenton Group on behalf of a group of investors, represents the first transaction for the recently established Merchant Banking Group of Detwiler Fenton Group's primary operating subsidiary, Detwiler Fenton & Co. (“DFC”), a FINRA member broker dealer.
Commenting on the announcement, newly installed President and Chief Executive Officer of The Rugged Bear business, Garrett Larson, said “Over the last 30 years, The Rugged Bear has become one of the most well-known and highly respected retail brands in the New England area. This acquisition represents a unique opportunity for us to improve upon The Rugged Bear concept and expand our presence both within New England and, eventually, into other regions across the United States.”
Alan McDonough, the founder of The Rugged Bear, stated, "This transaction will allow The Rugged Bear to capitalize on the strengths of the new management group and continue to provide the high-quality, competitively priced products for which the company has been known for the past 30 years. We are thrilled that the wonderful tradition of The Rugged Bear will continue and thrive into the future.”
Alex Arnold, Executive Vice President of Detwiler Fenton, added, “We are extremely excited to work with Garrett Larson to leverage our expertise in the consumer and retail sector and propel the Rugged Bear brand to the next level in the retail marketplace.”
Detwiler Fenton Group Inc
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