Los Angeles, CA, January 7, 2014 - Freeman Spogli & Co., a leading private equity investment firm, announced today that it has made a minority investment in Arhaus, LLC, a lifestyle retailer of exclusively designed home furnishings. Financial terms of the transaction were not disclosed.
Founded in 1986 by Chief Executive Officer John Reed and his father, Jack Reed, Arhaus operates 46 stores in 18 states as well as a growing e-commerce platform. Arhaus is a clear destination of choice for high quality home furnishings due to its innovative and comprehensive product assortment.
"We are excited to partner with Freeman Spogli as we expand into new markets and grow our e-commerce presence," said John Reed, Chief Executive Officer of Arhaus. "Freeman Spogli's expertise in the retail industry will be an important resource to us as we grow our business."
"John Reed and the entire Arhaus team have created a unique shopping experience in the home furnishings category," said Brad Brutocao, a General Partner of Freeman Spogli. "The company's loyal customers value its distinctive merchandise, visually inspiring stores, and engaging customer service. We are pleased to be partnering with John and his team in this exciting growth story."
Piper Jaffray & Co. acted as exclusive financial advisor to Arhaus. BakerHostetler provided legal counsel to the company and Bingham McCutchen LLP provided legal counsel to Freeman Spogli.
About Arhaus
Headquartered in Walton Hills, Ohio, Arhaus is a lifestyle retailer of exclusively designed home furnishings. Arhaus operates 46 retail stores in Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas and Virginia, and online at www.arhaus.com.
About Freeman Spogli & Co.
Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer-related and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested $3.1 billion in 49 portfolio companies with aggregate transaction value of over $19 billion, and currently manages three investment funds totaling approximately $2.7 billion in committed capital. Freeman Spogli has offices in Los Angeles and New York. For additional information, visit www.freemanspogli.com.