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Brentwood Associates to sell Oriental Trading Company to Carlyle

️Wed Jun 14 2006

Brentwood Associates to sell Oriental Trading Company to Carlyle
14/06/2006. Source: AltAssets.

US private equity giant The Carlyle Group has agreed to purchase Oriental Trading Company, an Omaha, Nebraska-headquartered direct marketer of party and school supplies, from Brentwood Associates. Financial details of the transaction were not disclosed but sources said that the deal was worth approximately $1bn. Brentwood will maintain a large minority stake in the company, according to a statement.

OTC is a direct marketer of novelties, toys, party supplies and home décor. The company has approximately 3,000 employees throughout its facilities in Omaha, Fremont and Underwood, Iowa.

Brentwood acquired OTC in 2000.

Bill Barnum, co-founder of Brentwood Associates' private equity effort, said, 'Since our investment in 2000, OTC has developed from a family-owned catalogue operation into one of the leading direct marketing businesses in the US. OTC has been one of Brentwood's most successful investments. We continue to have significant confidence in Steve Frary, the team he has built and the company's superior business model and look forward to the company's continued growth with Carlyle as the majority investor.'

The Carlyle Group recently also acquired a minority stake in Global Media, an internet marketing agency.