Gordon Brothers Group entered into a definitive agreement with NapaStyle and its creditors to acquire the company’s assets, including intellectual property, inventory, furniture, fixtures and equipment.
Founded by celebrity chef Michael Chiarello, NapaStyle offers handcrafted and artisanal home goods, furniture and specialty foods for decorating, entertaining, cooking, wine, garden and home enthusiasts through store, online and catalog channels.
“We’re pleased to have been able to offer a global solution to the company to maximize the value of the assets,” said Jim Lightburn, managing director of Gordon Brothers Group’s Commercial and Industrial Division. “These assets hold great potential and we look forward to putting them towards productive future uses,” he added.
Gordon Brothers Group has begun searching for buyers of the assets.