Z Capital Partners-Backed Twin Star Home Acquires Classic Accessories

Furniture World News Desk on 6/22/2021

Twin Star Home recently announced the acquisition of Classic Accessories, a provider of products that protect and enhance outdoor living and leisure, which include covers for patio and garden furnishings, cushions and accessories. Twin Star is a portfolio company of Z Capital Partners, L.L.C., the private equity arm of Z Capital Group, L.L.C. ("ZCG"), a leading privately-held asset manager. Terms of the transaction were not disclosed.

Founded in 1983, Classic Accessories is a Seattle-based leader in high-quality, benefit-rich, protective covers, furnishings and accessories boosted by a market-leading e-commerce presence. The acquisition of Classic Accessories further strengthens Twin Star’s position as a market-leading, e-commerce driven home furnishings and outdoor living platform throughout North America and builds upon the Company’s previous expansion into outdoor lifestyle products through the purchase of TK Classics in January 2020.

“We are thrilled to add another industry leader to the Twin Star family and further diversify our growing selection of indoor and outdoor home furnishings,” said Lori Gonzalez, Twin Star's Chief Executive Officer. “Classic Accessories has a legacy of developing high-quality products that enhance consumers’ ability to maximize their outdoor living at home. Combining our companies and unlocking the talent of our employees creates an even stronger and more competitive, omnichannel market position and will enable us to bring total comfort and delight to consumers’ homes – all year long.”

“Adding Classic Accessories to Twin Star creates great scale and will drive continued growth based on today’s long-term consumer shopping trends as the Company is ideally situated at the intersection of what consumers want in home furnishings and how they want to acquire them through e-commerce,” said James Zenni, Founder, President and Chief Executive Officer of ZCG. “We are pleased to welcome the Classic Accessories team and are confident that the combined company will be well-positioned to execute on the many tangible avenues for growth.”

“Twin Star has invested heavily in its platform over the last several years, including in talent, technology, supply chain, warehousing and logistics, and the acquisition of Classic Accessories is additive to this platform,” said Rahul Sawhney, Senior Managing Director at Z Capital. “This combined infrastructure gives Twin Star a significant competitive edge in the e-commerce channel as well as in continuing to execute strategic acquisitions.”

Classic Accessories will maintain operations in Seattle, Washington. The combined company will be headquartered in Delray Beach, Florida.

About Twin Star Home: Twin Star Home is a leading omnichannel, consumer-driven designer and manufacturer of indoor and outdoor living products to enhance the home experience. Twin Star Home’s award-winning designs of functional, beautiful and affordable product lines include furnishings for the living room, home office and bathroom, many with integrated technology and media solutions. Outdoor living products include modular seating collections, dining tables, bars, fire pits and accessories. Twin Star Home is a pioneer in the transformation of the home furnishings business model with borderless, leading e-commerce platforms and traditional retailing. Twin Star Home holds hundreds of product, design and technology patents and combines the latest trends with consumer-driven innovation. Twin Star Home’s mission is to create products that enhance the consumer home experience. Consumers and retailers alike recognize Twin Star Home for its trusted national brands: ClassicFlame®, Duraflame®, Bell’O®, TK Classics®, Classic Accessories®, Duck Covers™, kathy ireland® Homes & Garden, Vera Bradley, John Deere, Tresanti®, ChimneyFree®, Craftsman, Kingsford™ and Frida Kahlo. Find out more at www.twinstarhome.com. 

About Classic Accessories: Founded in 1983, this Seattle-based company is dedicated to providing customers with a premiere outdoor experience. Over the past three decades, Classic Accessories has steadily expanded its capabilities, distribution channels, and portfolio of product offerings. Today, Classic Accessories is the leading manufacturer of high quality, benefit-rich protective covers as well as outdoor furnishings and accessories for today's active lifestyles.

The Classic Accessories family of brands includes Classic Accessories, a premium line of covers and outdoor living furnishings, and Duck Covers, a mid-tier brand offering covers, hammocks, umbrellas, and cushions in trending colors and styles at accessible price points.

Classic Accessories products are sold globally through hundreds of retail partners, as well as direct-to-consumer. Classic Accessories also produces OEM products and private label programs for many national brands and retailers. For more information, visit www.classicaccessories.com.

About ZCG: ZCG is a leading New York City based, privately held, global investment firm with approximately $4 billion of assets under management across complementary private equity and credit businesses. ZCG and its Principals have industry leading track records in private equity and credit for over twenty-five years. ZCG's investors are some of the largest and most sophisticated global institutional investors including pension funds, endowments, foundations, sovereign wealth funds, central banks, and insurance companies. For more information, please visit www.zcg.com.