Baskins
Background
Baskins is a leading retail chain of Western, Work and Weekend Wear in East Texas. Baskins, headquartered in Livingston, TX, was founded in 1972 by the Baskin family and currently operates 19 stores in towns across East Texas. Baskins primarily sells nationally recognized name-brand apparel, footwear, accessories, gifts and home décor products to value-minded working families. Consumer Growth Partners assembled an investor syndicate that includes Banyan Mezzanine Funds, CapSources Funds, Diamond State Ventures and Mid States Capital to purchase the company from Transition Capital Partners, a private equity firm based in Dallas, TX.
Strategy
The previous owner Transition Capital Partners in conjunction with the Company’s President focused on transitioning the Company from a family-owned business to a professionally-managed enterprise. Transition Capital Partners desired to sell the Company and CGP assessed the opportunity, developed the investment rationale, partnered with a group of institutional private equity investors and recruited a seasoned industry executive to become CEO of the Company. This executive Jack Gunion brings over 40 years of retail experience to Baskins. He has previously worked for specialty apparel and footwear retailers such as Genesco and County Seat Stores as well as general merchandisers Target and Sears. Jack has the operational skills necessary to effectively grow the Company, and the President Bryan Baskin will continue to operate in a senior executive role.
Involvement
Bill Reisler is a Director of the Company. CGP actively supports the senior executive team in key areas of merchandising, operations, real estate and finance to implement best practices throughout the organization and to execute the long-term strategic plan.
Transaction Announcement
To review the announcement, please click on the following link: Baskins