Multi-channel retailer, Blick Art Materials, has purchased shareholdings in Utrecht Art Supplies. Blick operates 39 locations while Utrecht has 45 stores and both are active participants in the art supplies market.
According to Robert Buchsbaum, CEO of Blick Art and the head of the joint venture, said, "The acquisition of Utrecht gives us a tremendous, well-established brand and greater geographic reach for our brick and mortar channel. We are very excited to welcome Utrecht employees and customers to the Blick team."
The previous owner of Utrecht Art Supplies is Topspin Partners. According to Topspin Partners LBO Managing Director Steve Lebowitz, "We are glad to have achieved a successful exit for our investors and are proud of the business that Utrecht's employees have helped to build. We are confident that Utrecht will be in good hands as part of the Blick family."
Advising Utrecht Art of the financial aspects of the transaction is Concensus Advisors.
Join the Conversation