Milestone sells EB Brands to NY's Cortec
Milestone Partners, the Wayne investment firm started by Scott Warren and R.G. Levine, says it's sold high-end product-marketer EG Brands to Cortec Group, New York. Under Milestone, sales nearly tripled, to $100 million. Milestone won't say how much of that is profit, or how much Cortec is paying.
Milestone Partners, the Wayne private equity group started by Scott Warren and Robert G. Levine, says it's sold EB Brands, a Yonkers, NY firm that markets "high-margin, high-impulse" products from Samsonite, Everlast, Sharper Image and other companies to retailers like Wal-Mart and TJX, to Cortec Group, New York, for an undisclosed sum.
Milestone bought EB in 2000; sales have nearly tripled, to over $100 million, said a person familiar with the company.
Lazard Middle Market represented EB, GE Antares Capital helped finance the deal. More at www.milestonepartners.com