January 23, 2012. Topspin LBO today announced that it has completed the acquisition of Stagnito Media (“Stagnito” or the “Company”), a rapidly growing business-to-business media company serving the grocery and convenience store industries.
Based in Deerfield, Illinois, Stagnito operates several industry-leading trade publications including CONVENIENCE STORE NEWS, (CSN FOR THE SINGLE STORE OWNER), PROGRESSIVE GROCER, (PG’s STORE BRANDS), THE GOURMET RETAILER, HISPANIC RETAIL 360 and RETAIL LEADER. In addition to print media, the Company maintains two directories and a variety of digital, event and custom media offerings, all serving the grocery and convenience store industries.
With over 40 years of experience, Mr. Harry Stagnito, President and CEO of Stagnito, will continue to lead a highly respected management team with longstanding relationships in the industry. Mr. Stagnito stated, “We are excited to have Topspin as our equity partners. Their expertise in the media industry will be helpful as we consider various avenues for growth.”
“Stagnito Media has brought a successful, new business model to the grocery and convenience store retailing market, and that has been evidenced by its rapid growth during the past couple of years,” said Steve Lebowitz, Managing Director at Topspin LBO. “We especially like the way the Company has developed and integrated its platform of magazines, websites, digital products, events and original research. The Company is a great addition to our portfolio.”
Topspin LBO is a Long Island, NY-based private equity fund that makes control investments in profitable and established lower middle-market businesses. The firm often invests in sectors such as consumer products, business services, food/beverage, retail, media, niche manufacturing and security. The team at Topspin LBO has considerable operational expertise and has partnered with management teams in building businesses of varying stages and sizes, both at Topspin as well as prior firms. Additional information on Topspin LBO can be found at www.topspinlbo.com