TZP Group Acquires a Majority Stake in Itzy Ritzy

NEW YORK, April 22, 2021 /PRNewswire/ -- TZP Group ("TZP"), a multi-strategy private equity firm, announced today that the firm has led the recapitalization of Quintessential Tots, LLC d/b/a Itzy Ritzy ("Itzy Ritzy" or the "Company"), a leading omni-channel lifestyle brand of juvenile products with Co-Founders Kelly Meyer Douglas and Brian Douglas who remain significant shareholders.

Launched in 2007 by Kelly Meyer Douglas and Brian Douglas, Itzy Ritzy offers a diverse portfolio of products that span multiple categories including diaper bags, toys, pacifiers, teethers, and other must-have baby related products.  Itzy Ritzy has fostered an inclusive, engaged community of parents who frequently share advice and support one another in their parenting journey.  The Company sells its products through leading national, specialty and grocery retailers, Amazon, and through its own website www.itzyritzy.com.

Rodney Eshelman, TZP Partner, commented, "We are thrilled to be partnering with Kelly Meyer Douglas and Brian Douglas.  We believe the combination of Itzy Ritzy's unique product offering, loyal consumer following, and strong retail relationships coupled with the network and resources of TZP will accelerate Itzy Ritzy's growth and increase its brand awareness."

Erin Edwards, TZP Partner, added, "Itzy Ritzy creates truly innovative products that are functional, fresh, and with a beautiful aesthetic. With success across numerous product categories and channels of distribution, we believe Itzy Ritzy has proven the strength of its brand and its product portfolio." 

Kelly Meyer Douglas, Co-CEO and Co-Founder commented, "The Itzy Ritzy management team is excited to be partnering with TZP.  TZP has an established track record in the consumer space, and they share our values and vision for the brand."  Brian Douglas, Co-CEO and Co-Founder added, "I believe that Itzy Ritzy will be able to leverage TZP's expertise and resources to further expand our brand to a wider audience and better serve our current consumers. I am very excited to announce this partnership and look forward to working with the TZP team."

Rodney Eshelman and Erin Edwards co-led the transaction for TZP with support from Nick Vega, Kyle Bonalle, and Jarrad Berman. Goodwin Proctor LLP and Greenberg Traurig LLP provided legal counsel to TZP and the Company, respectively. Brown Gibbons Lang & Co. served as the exclusive financial advisor to Itzy Ritzy for the transaction.  PineBridge Investments provided debt financing for the transaction.  

About Itzy Ritzy
Based in Naperville, IL, Quintessential Tots, LLC doing business as Itzy Ritzy is a leading modern juvenile and lifestyle brand that provides achievable luxury for modern families around the world and embraces an inclusive and uplifting community of parents. With a global presence in retailers including national placement at leading mass, specialty and grocery retailers, independent boutiques, and online, Itzy Ritzy is community-driven and highly engaged on social media. Learn more about Itzy Ritzy at www.itzyritzy.com and socially at www.instagram.com/itzyritzy

About TZP Group
TZP Group, a multi-strategy private equity firm managing approximately $2.0 billion across its family of funds including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies, and TZP Strategies Acquisition Corp., is focused on control, growth equity, and structured capital investments in business services and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a "Partner of Choice" for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals' operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.

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SOURCE TZP Group