July 18 (Bloomberg) -- Gordon Brothers Group, the liquidation, lending and investment firm, has named a former executive at Sun Capital Partners as its new head.
Gary Talarico, who ran Sun’s New York and Tokyo offices, is the new chief executive officer at the Boston-based firm, the company said in a release. Talarico replaces Michael Frieze, a grandson of one of the founding brothers, who will now serve as chairman.
Gordon Brothers has been involved in some of the largest distressed retail cases in recent years, including the liquidation of Circuit City Stores Inc. and purchases of bankrupt companies including Polaroid Corp. and Linens n’ Things Inc., often partnering with other firms. It is also one of the opening bidders for Borders Group Inc., the bankrupt bookstore chain that will auction its assets on July 19.
There’s more potential work across industries, with both struggling and healthy companies, Talarico said today in a telephone interview.
“Globalization has hit this country quite hard,” he said. “Throughout the economy there’s going to be change. We’re not going to see any shortage of that.”
Talarico spent two decades as an executive at Deutsche Bank and Lehman Brothers before joining Sun Capital Partners from 2004 to 2009, where his deals included the acquisition of the Boston Market and Friendly’s restaurant chains. While at Sun, he managed the Boca Raton, Florida-based firm’s Tokyo office.
He comes to Gordon Brothers from Cora Street Partners, a New York advisory firm.
Talarico said his international background would be useful in building overseas business. “In Europe and Japan, there’s still a lot of room for growth,” Talarico said.
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