Facilitating the Next Wave of Growth for Leading Canadian Menswear Chain
BOSTON, June 28 /CNW/ -- GB Merchant Partners, the private equity
affiliate of Gordon Brothers Group, announced the closing of an investment in
Grafton-Fraser, Inc., a leading Canadian menswear retailer.
As part of the transaction, Glenn Stonehouse, Grafton-Fraser's Chairman,
Chief Executive Officer and controlling shareholder for the past 13 years,
retained a significant ownership stake in the company and will continue to
oversee its growth and expansion along with the company's experienced
"We look forward to partnering with GB Merchant Partners to continue the
growth and expansion of Grafton-Fraser and its retail stores," stated Glenn
Stonehouse. "Their retail industry and investment expertise will be
indispensable in facilitating our next wave of growth in the coming years."
Over the past ten years, Grafton-Fraser has experienced significant
growth including the acquisition of the Tip Top Tailor chain from Dylex in
2000. Throughout Grafton-Fraser's history, its stores have emphasized a strong
consumer value proposition based on a broad selection of fashionable items at
affordable price points and high-quality customer service.
"Grafton-Fraser represents an ideal investment for our new 1903 Equity
Fund as the company has a well established market position and a
differentiated value proposition," said James Dworkin, Managing Director, GB
Merchant Partners. "We look forward to working with Glenn and his management
team to assist the company in expanding its store base and accelerating
several other compelling growth initiatives."
About GB Merchant Partners and Gordon Brothers Group
GB Merchant Partners, LLC (http://www.gbmerchantpartners.com) is the
private equity affiliate of Gordon Brothers Group. GB Merchant Partners
invests in companies through its 1903 Equity Fund, L.P., leveraging Gordon
Brothers' consumer products and retail expertise. GB Merchant Partners'
current portfolio companies include Things Remembered, a specialty retailer of
personalized gifts with over 600 stores; Andrew Marc, a designer and marketer
of branded outerwear; Spencer Gifts, a specialty retailer of novelty items,
gifts and costumes with over 700 stores; and Laura Secord, a leading Canadian
retailer and wholesaler of chocolate, ice cream and confectionary products.
Past investments include Party America, the second largest party goods
retailer in the U.S.; Restoration Hardware, a branded specialty retailer of
home furnishings and decorative merchandise; The Bargain! Shop, a Canadian
discount retailer of general merchandise; and Party City Corp., the largest
party goods chain in the U.S.
Founded in 1903, Gordon Brothers (http://www.gordonbrothers.com) is an
advisory, restructuring and investment firm specializing in the retail,
consumer products, real estate and industrial sectors. In addition to
undertaking private equity investments, Gordon Brothers provides asset
valuations and appraisals, dispositions, real estate consulting, lending and
About Grafton-Fraser, Inc.
Headquartered in Toronto, Grafton-Fraser is a leading specialty retailer
of menswear, tailored clothing and big and tall men's apparel, operating 170
stores throughout Canada under the Tip Top Tailor, Stonehouse, Grafton & Co.,
George Richards, Mr. Big & Tall and Kingsport trade names. Grafton-Fraser's
original roots date back to the nineteenth century.
For further information:
For further information: Susan Cronin, Vice President, Marketing of
Gordon Brothers Group, +1-617-422-6270, +1-617-210-7145 (fax) Web Site: