ATLANTA, May 28, 2010 – The Paradies Shops, Inc. has closed the investment transaction with Freeman Spogli & Co Announced in January 2010.  

The Paradies Shops, a leader in the travel retail industry for over 50 years, currently operates over 500 stores in airports and hotels.  Freeman Spogli, a private investment firm with an excellent track record spanning over 27 years, exclusively invests with management in leading retail and consumer-related companies positioned for growth. 

"We are very pleased that the investment partnership with Freeman Spogli & Co. has closed" said Gregg Paradies, Chief Executive Officer.  “The financial and strategic resources that Freeman Spogli & Co. is bringing to our company will give us the opportunity to continue our long tradition of providing leading retail solutions to airports, hotels and other travel retail venues while maintaining our 50 year history, mission and core values.” 

The existing management team, led by CEO Gregg Paradies, will continue to manage and operate the business.  The Paradies Shops has been a family business for 50 years and the family will continue to be a significant shareholder. 

"The Paradies Shops is certainly an industry leader and is known for its successful track record and reputation of excellence," said Todd Halloran, General Partner of Freeman Spogli. "Paradies’ core values, historically strong financial performance and first class customer service are all in line with the attributes we desire for partnership."

Contacts: Jill Nidiffer, The Paradies Shops 404.494.3439,   jill.nidiffer@theparadiesshops.com