Home-decor brand Jonathan Adler sold itself to investment firm Consortium Brand Partners and a partner, the companies told The Wall Street Journal.CBP, which owns Reese Witherspoon's fashion brand, Draper James, as well as ath-leisure brand Outdoor Voices, bought Jonathan Adler for an undisclosed price.The retail brand, launched in 1993 by the eponymous potter and designer, generates about $150 million in annual revenue, CBP Managing Partner Cory Baker said in an interview.The acquisition, set to be announced Wednesday, is a partnership between CBP and American Exchange Group, which invests in brands such as Ed Hardy and Aerosoles boots. American Exchange is taking a minority stake.Jonathan Adler's eccentric style, described by him as "modern American glamour," and various media appearances have propelled him to celebrity status.In addition to staples such as sofas, towels and lamps, the brand sells accent pieces such as a $1,500 oversized acrylic mushroom and a wicker sculpture of a peeled banana.Jonathan Adler currently has nine stores in the U.S., three of which are in New York City, and one in London.CBP plans to grow the brand by expanding into new international markets and bolstering the company's wholesale business with customers such as department stores, Baker said.The company also plans to introduce lower-priced offerings to appeal to more consumers.The Jonathan Adler brand generates about half of its revenue from online sales, Baker said, with the remainder split between stores and wholesale.The deal is CBP's third in less than two years. The firm made a splash last year after purchasing a majority stake in Draper James, which was named after Witherspoon's grandparents and is known for its Southern style.In June, CBP bought troubled apparel brand Outdoor Voices shortly after the company shuttered all of its retail locations.Jonathan Adler got his start selling a collection of pots to Barneys. He opened his first retail store in New York City in 1998.Adler gained a following as the lead judge on the Bravo reality competition show Top Design, in which interior designers competed in a series of challenges.He plans to continue with the company as founder and chief creative officer.

Home Brand Jonathan Adler to Sell Itself

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