Deal marks the company’s 3rd acquisition of an outdoor furniture resource since January 2020
BOCA RATON, Fla. — Indoor and outdoor furniture resource Twin Star Home has acquired patio furniture resource Grand Basket, a move that further expands its outdoor furniture line.
Founded in 1962 and based in Denver, Grand Basket produces a line of hand-woven wicker seating, tables and storage pieces such as ottomans. It also provides accessories such as planters and baskets and replacement weather-resistant cushions and pillows.
While company officials did not reveal a purchase price or other terms of the transaction, they said that the deal strengthens Twin Star’s “leadership as an e-commerce-driven home furnishings and outdoor living platform across North America.” It is the company’s third acquisition of an outdoor resource since January 2020, when it acquired TK Classics, and June 2021, when it acquired Classic Accessories.
“We are excited to add Grand Basket to the Twin Star family and enhance our leadership in indoor and outdoor home furnishings,” said Mark A. Gold, Twin Star’s chief executive officer. “Grand Basket has a long legacy of developing high-quality outdoor products that empower consumers to make the best of their outdoor environments. We look forward to welcoming the Grand Basket team and leveraging our combined talent to drive continued growth. This acquisition builds upon our foundation and further differentiates Twin Star in delivering unrivaled design, quality and innovation to our retail partners and end consumers.”
“Twin Star’s strategic acquisition of Grand Basket is both exciting and opportune at this important moment in the company’s journey,” said James Zenni, founder, president and CEO of ZCG, a company owned by Z Capital Partners LLC, the private equity arm of Z Capital Group LLC. “We are pleased to welcome the Grand Basket team and see this transaction propelling Twin Star to new heights within the outdoor product sector by accelerating their commitment to delivering exceptional value and driving continued innovation.”
Grand Basket said it will maintain operations in Denver and the combined company will be based in Boca Raton, Florida.
The sale was brokered by Charlotte, North Carolina-based merger and acquisition specialist Stump & Co.