From Home Furnishing Business
Boston Interiors Sold
Home furnishings retailer Boston Interiors has been sold to a Boston investment company and the retailer’s current executive team.
Castle Island Partners, the investment firm, and the management team bought Boston Interiors from founder Ken Loring and his family.
Loring had been laying the foundation for his exit since 2014 when he hired Stefanie Lucas as CEO of Boston Interiors, a seven-store chain with sales in excess of $50 million.
Under Lucas’ leadership, Boston Interiors has seen strong growth over the past year and a half, including the opening of its seventh store, improved integration of its website into the customer experience, and the introduction of a new catalog. Looking forward, the company anticipates continued expansion, capitalizing on the strong brand and operations that have been built over the years.
“I think the current management team, with the added resources of Castle Island, is in a great spot right now,” Loring said. “We have proven that the strategy we put in place is still very strong. I am happy to turn the business over to a team that appreciates what we have done and will carry it on into the future.”
Financial terms and details of the transaction have not been disclosed.
“We are very excited to be part of the future of Boston Interiors, said Ryan Kim, partner of Castle Island. “We believe strongly in the brand and look forward to supporting the current management and employees as they grow the business in the years ahead.”
Lucas remains at the helm of the retail chain.
“Although Ken and the Loring family’s departure is sad to all of us here personally, I feel honored to have been given the opportunity to take this fabulous company to the next level,” she said.