Renovation Brands Acquires DecorPlanet.com, a Leading Omni-channel Provider in the Home and Bathroom Products Space
BOULDER, Colo., Aug. 12, 2019 /PRNewswire/ -- Renovation Brands, the parent company of multiple fast growing home improvement product brands, announced today the closing of its latest acquisition, DecorPlanet.com. DecorPlanet is a leading, fast growing omni-channel provider in the home and bathroom products space. They specialize in decorative plumbing and hardware, kitchen sinks, faucets and lighting. Products are sold on DecorPlanet.com, as well as through wholesale relationships and four showrooms in the New York City area. In addition to its proprietary Fresca brand, they offer hundreds of other internationally recognized third-party brands.
"We are thrilled to welcome Robert Gavartin and the DecorPlanet team to the Renovation Brands family. In addition to our existing online ready to assemble kitchen cabinet brand, RTA Cabinet Store (RTAcabinetstore.com), DecorPlanet provides us with an extremely strong digital footprint in the growing multi-billion dollar Kitchen & Bath space," said Marc Sieger, CEO of Renovation Brands. "DecorPlanet is a big step forward in positioning Renovation Brands as a leading player in the growing online home improvement and renovation market."
"We are equally excited to be part of the Renovation Brands and Digital Fuel Capital family. We were looking for the right partner with the digital, analytical, and operational chops who could help take our business to the next level and meet the future needs of our customers and employees. I am happy to say, we found a great fit," said Robert Gavartin, President of DecorPlanet.com.
Houlihan Lokey served as financial advisor to Renovation Brands and Aramar Capital Group, LLC served as financial advisor to DecorPlanet on this acquisition.
About Renovation Brands:
Renovation Brands is the parent company of multiple fast growing home improvement product brands serving both residential and commercial customers in the renovation space. With a distinct focus and competence in the digital space, Renovation Brands is a top 500 e-retailer that is owned by Digital Fuel Capital, a leader in investing in internet retail and digital marketing technology and services.
Renovation Brands is currently comprised of nine specialty eCommerce brands including American Tin Ceilings, Reggio Register, Electric Fireplaces Direct, Mantels Direct, Electric Fireplaces Canada, Electric Heat Source, Baseboarders, RTA Cabinet Store, and DecorPlanet.com.