David Hochberg

Lillian Vernon, the Rye, NY-based gifts and housewares catalog company, was sold to Ripplewood Holdings, a private equity fund, and ZelnickMedia, a media management firm, for $60 million. The deal is expected to be complete by July 31. Founder Lillian Vernon will retain a 5-percent ownership of the company, and will continue in her role as company spokesperson, although she will step out of the day-to-day catalog operations, said David Hochberg, her son and an executive at the company. Hochberg will remain in his position at Lillian Vernon, he told Catalog Success. Ripplewood Holdings, which will own a majority share in the catalog,

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