Mistral Equity Partners, a private equity firm focused on the consumer and media sectors, has acquired a majority interest in Sac Acquisition, a multi-channel retailer of patented furniture products.
LoveSac designs furniture for real life, including Sactionals, modular, washable sectional sofas; Sacs, high end, foam-filled bean bag chairs; and other comfy lifestyle products.
“LoveSac has created a unique retail model and compelling consumer value proposition for today’s discerning shopper. As consumers continue to demand a more convenient lifestyle in and out of the home, LoveSac has created quality, easy to use products that give the consumer a range of furniture choices and the ability to create new looks and styles that suit their needs,” says Andrew Heyer, managing director of Mistral Equity Partners. “The company has strong multi-channel growth prospects, and we are excited to partner with LoveSac’s management team to grow the company’s retail store base, internet sales and other distribution channels.”
Using just two component parts that are sold separately, LoveSac’s Sactionals can be easily configured, without tools, into an array of furniture styles to create various seating options to meet consumers’ needs. The products are sold through its website, in the company’s 28 branded mall-based retail stores, and in numerous other channels both domestically and internationally.
Shawn Nelson, LoveSac’s founder, says: “We are thrilled to have the opportunity to partner with an investor as sophisticated and value-added as Mistral. Their extensive knowledge and expertise in the consumer and retail sectors will be a tremendous asset during this next, exciting stage of the company’s growth.”
