STAMFORD, CT -- BEV Capital recently completed an investment
in Le Gourmet Chef, a specialty retailer of kitchenware, packaged
gourmet foods and decorative housewares. Key elements of the
investment decision were: a CEO that BEV had previously successfully
backed, a very strong one-store model and impressive sales per
BEV led the oversubscribed $8 million financing round with other new
investors The Walnut Group and Mercantile Capital. Existing investor
Provender Capital also participated in the financing.
Le Gourmet Chef (LGC) has been a bright spot during a time of
poor performance for many retailers. While companies such as The
Gap, Federated and Ethan Allen reported significantly negative same
store sales through 2001 and into 2002, LGC's comps were
double-digit positive over that time.
The Le Gourmet Chef concept integrates kitchenware, packaged
gourmet foods and decorative housewares around entertaining-at-home
themes. Whether the customer is preparing a summer barbecue,
throwing a holiday party or arranging a romantic Valentine's Day
dinner, LGC provides a one-stop-shop for their entertainment
merchandise needs. The stores promote casual at-home entertaining
with a warm, relaxed environment and merchandise with a dash of
LGC currently operates 29 stores across the US and achieved
approximately $45 million in revenues for fiscal 2001. The company's
headquarters are in Red Bank, New Jersey.
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