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Tully & Holland sells Linen Source to Orchard Brands

Investment bank Tully & Holland has sold Linen Source, a direct marketer of bedding and home furnishings, to Golden Gate Capital’s portfolio company Orchard Brands.

The terms of the transaction were not disclosed.
Orchard Brands, a USD1.1bn multi-channel marketer of apparel and home products, acquired Linen Source to broaden its product offering.

Orchard Brands will consolidate Linen Source’s business operations into its existing organisation.
Linen Source, one of three direct marketing companies collectively known as The Thompson Group, will benefit from access to Orchard Brand’s large customer file.

Alix Franzblau, treasurer of The Thompson Group, says: "We are excited about Linen Source’s opportunity for future growth within the Orchard Brands collection of top specialty clothing, footwear, household and health brands. This sale, in combination with the sale of Casual Living USA, completes the restructuring of The Thompson Group and allows us to focus on the continued growth of The Thompson Group’s remaining business, Thompson Cigar."
Tully & Holland initiated the transaction and acted as the exclusive investment banking adviser to Linen Source.

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