Gilchrist & Soames, a premium bath and beauty products amenities provider, has found a new home. The company has been sold by private equity firm Swander Pace Capital to Guest Supply, a full-service provider of hospitality supplies and subsidiary of Sysco Corporation.
Although financial terms of the deal were not disclosed, it is hoped that Gilchrist & Soames will be able to maintain the momentum it experienced under Swander Pace Capital. Starting out with a client base mainly focusing on boutique hotels in North America, Gilchrist & Soames is now available in global hoteliers including The Peninsula Hotels, Hyatt and Mandarin Oriental Hotel Group.
Kathie De Voe, CEO of Gilchrist & Soames, said: “I want to thank Swander Pace for being an incredible partner. With their support and guidance, we’ve nearly doubled the size of our business, expanded to new markets and properties around the world, invested in and built a best-in-class new headquarters facility in Indianapolis, and secured the interest of a new partner to build on that momentum.”
Meanwhile, Mo Stout, Managing Director at Swander Pace, added: “I’m incredibly proud of our partnership with Gilchrist & Soames over the past eight years. Kathie De Voe and her team have pushed the company to new heights and set the standard for luxury beauty and personal care products for travellers throughout the world. We look forward to watching the company continue to grow with its new partner, Guest Supply.”
Guest Supply has more than 25,000 hotel partners spanning in excess of 100 countries.