Tully & Holland announces sale of Casual Living USA to Boston Apparel Group

February 23, 2010

Tully & Holland, Inc. is pleased to announce another successful sell-side M&A assignment in the direct marketing sector. Tully & Holland initiated and advised Casual Living USA, Tampa, FL in its sale to the Boston Apparel Group, a portfolio company of Monomoy Capital Partners, L.P., New York, NY. Boston Apparel Group is a leading catalog and internet retailer of women's apparel sold under the Chadwicks and metrostyle brand names.

Casual Living, a multichannel marketer of casual women's apparel, was founded in 1953 and bought by the Franzblau family in 1989. The company, one of the Franzblau's three direct marketing companies collectively known as the Thompson Group, successfully transitioned from a gift catalog to a leading women's apparel multichannel merchant over the past few years. Casual Living is the first acquisition for Boston Apparel Group since Chadwicks and metrostyle were purchased by Monomoy Capital Partners in 2008.

With this acquisition Boston Apparel Group recognized the opportunity to expand their product offering and diversify their customer base while complementing Boston Apparel's Chadwicks and metrostyle brands. According to David Myles, the Chief Executive Officer of the Boston Apparel Group, "Casual Living has developed a top-tier product offering and a loyal customer base over the past five years. In a difficult retail environment, the addition of Casual Living will substantially expand Boston Apparel's unique ability to provide consumers with the right products at the right price points every day."