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GEM SHOPPING: Gem Shopping Network, which sells colored gemstones and jewelry, has been acquired by an affiliate of private equity firm Sun Capital Partners for an undisclosed amount. Founded in 1995, the Duluth, Ga.-based firm typically offers one-off designs via interactive TV broadcast through satellite, cable and over the internet. The executive team is led by PJ Lynch, who is chief executive officer. “We have made great progress in recent years and we know, with Sun Capital’s operational resources and expertise behind us, we will build on this success as we expand our reach on television and online,” Lynch said.
Marc Leder, Sun’s co-ceo, said, “We’re eager to work with PJ and the company’s seasoned management team, as our deep experience in the consumer retail category, combined with their mastery of the TV delivery channel, will help Gem Shopping to expand its leadership and capture significant market opportunity.” Sun’s portfolio companies include Shopko, The Limited, Gordmans, Vince, Kellwood and Scotch & Soda.