New Management Forthcoming
MONTREAL, Dec. 5, 2012 /CNW Telbec/ - Today, NOVACAP announced that it
has entered into an agreement for the acquisition of Bentley Leathers
Inc. This investment by NOVACAP should allow the company based in
Saint-Laurent, Quebec, to continue its growth and expansion of its
various banners, including Bentley, Access, and Unic.
"Bentley" has over 400 stores in Canada and has experienced sustained
growth for several years. "We are proud to announce the acquisition of
this great company; Bentley Leathers is the leading luggage retailer in
Canada and one of the most important players in North America. We are
very pleased to have reached an agreement, thus allowing us to purchase
a business that is dominant in its market" pointed out Jacques Foisy,
President and Managing Partner of NOVACAP Industries.
This announcement also coincides with the retirement of the founder of
the Bentley Group, Mr. Andy Chelminski, who has been active in the
retail sales industry for some 50 years. "Looking back, I am proud that
the single store in St. John's, Newfoundland that we started 25 years
ago has evolved to become Canada's leading handbag, wallet, luggage and
bag retailer. This agreement with NOVACAP is a positive event for the
employees; they have been dedicated and instrumental to our company's
growth. I am convinced that there are many exciting things to come in
the company's future,'' said Andy Chelminski.
NOVACAP has recruited David Margolis, a well-known figure in the
Canadian retail industry to take on the role of Chief Executive Officer
of Bentley Leathers Inc. In 1982, Mr. Margolis founded the retail chain
Winners, and subsequently, the HomeSense stores. He also worked for
several years as a consultant for Canadian companies in the retail
industry. "I'm optimistic that we will continue to enhance the customer
experience within our banners and I am excited about the opportunity, "
said David Margolis.
The new changes within Bentley Leathers Inc. will take effect in early
2013, following the completion of the transaction.
ABOUT BENTLEY LEATHERS INC.
Started in 1987, "Bentley" is a chain of retail stores operating
throughout Canada. It currently has 400+ retail stores that sell
luggage, purses, backpacks, briefcases, sport duffle bags and related
accessories under various banners, including Bentley, Access, and Unic.
Bentley has grown rapidly in the last twenty years and has become a
household name for retail luggage, handbags and accessories, and is
synonymous with value and customer service. It is currently the largest
luggage retailer in Canada, and the largest luggage specialty retailer
in North America.
With $790 million in assets under management, NOVACAP is one of Canada's
leading private equity firms. Since 1981, its distinct partnership
approach based on operational expertise has helped companies accelerate
their growth and maximize their value. NOVACAP ranks among the top
private equity firms in North America. For more information, please
For further information:
Jacques Foisy, CPA CA
President & Managing Partner
450.651.5000 extension 229
Frederick Perrault, CA, MSc.
450.651.5000 extension 245
Information: Cohn & Wolfe Montréal
514.293.3423 or 514.845.7035