Friday, December 23, 2016
Warburg Pincus Acquires Gabriel Brothers, Inc.
Warburg Pincus, a global private equity firm focused on growth investing, today announced that funds affiliated with the firm have agreed to acquire Gabriel Brothers, Inc. ("Gabe's" or the "Company"), an off-price fashion and home retailer. As part of the transaction, Alvarez & Marsal Capital, the Company's current majority owner, will exit its stake in the Company. Terms of the transaction were not disclosed.
Gabe's, formerly known as Gabriel Brother's, operates 106 stores under the Gabe's and Rugged Wearhouse banners across 11 states in the Mid-Atlantic and Southeast. The Company sells leading apparel, footwear, accessories, and home brands at up to 70% off department and specialty store prices. The Company was founded in 1961 by the Gabriel family and is headquartered in Morgantown, West Virginia.. . . more