Golden Gate Capital completes acquisition of Norm Thompson Outfitters

Norm Thompson to join Catalog Holdings family of leading women’s specialty retail brands

SAN FRANCISCO (March 13, 2006) – Golden Gate Capital announced today that it has completed the acquisition of Norm Thompson Outfitters, Inc., a leading specialty retailer targeting the rapidly growing ‘baby boomer’ market via three distinct titles: Norm Thompson, Solutions and Sahalie. Norm Thompson Outfitters offers a wide selection of unique products, including apparel, accessories, gifts, travel items, gourmet foods, household goods and outdoor gear through multiple sales channels including catalog, retail stores, and the Internet. The acquisition was completed by Golden Gate’s portfolio company, Catalog Holdings Inc., which will now have annual revenues in excess of $700 million. In addition to the Norm Thompson titles, Catalog Holdings owns Spiegel, Newport News, Appleseed’s, Draper’s & Damon’s and The Tog Shop.

Norm Thompson Outfitters, founded in 1949, is headquartered in Hillsboro, Oregon and will continue to operate at its current locations in Oregon, New Hampshire and West Virginia. “We are very excited to welcome Norm Thompson to the Catalog Holdings family of women’s apparel and specialty brands” said Stefan Kaluzny, a Managing Director at Golden Gate Capital. “With the addition of Norm Thompson, Solutions, and Sahalie, we have significantly increased our offerings to this rapidly growing demographic. Furthermore, adding Norm Thompson’s three brands to our five existing titles creates ever greater opportunities for each to benefit from the scale and expertise of the group.”

“This is a very exciting time and a very positive partnership for Norm Thompson” added John Emrick, Chairman and CEO. “With Golden Gate’s financial backing and expertise in specialty retail, we have found an excellent partner for the future. We look forward to being a part of this great family of brands and to continuing to offer the excellent merchandise and customer service that our loyal customers have come to expect through our more than fifty years of history.”

Following the successful acquisitions of Newport News in June, 2004 and Spiegel in July, 2004, and Appleseed’s and Draper’s & Damon’s in November, 2005, Golden Gate Capital has become one of the leading investors in the women’s specialty retail market, with a focus on the direct channel. While each title will continue to operate independently, there exist significant opportunities for each to benefit from being part of an industry-leading portfolio. Golden Gate continues to seek additional acquisitions of similar brands.

Financial terms of the transaction were not disclosed.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $2.5 billion of capital under management. Golden Gate Capital is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses. Golden Gate targets investments in situations where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide range of industries and transaction types. For additional information, visit

About Norm Thompson Outfitters

Norm Thompson Outfitters is a Portland, Oregon-based, direct retailer specializing in online and catalog merchandising. With three leading national brands – Norm Thompson, Solutions and Sahalie – NTO sells a wide range of unique products, including apparel, accessories, gifts, travel items, gourmet foods, household goods and outdoor gear. At approximately $200 million in annual sales, NTO is ranked on the top 100 lists of both Multichannel Merchant and Internet Retailer. For more information, visit, and