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A Southern Season sold to local capital fund

Posted on August 4, 2011August 4, 2011 by Staff

CHAPEL HILL – Having grown from an 800-square-foot store and a staff of one in December 1975 to 60,000 square feet and more than 300 employees, A Southern Season certainly has seen some changes.
 A new chapter now begins, with the announcement that TC Capital Fund, headed by Chapel Hill entrepreneur Clay Hamner, has bought the company.
“For most of A Southern Season’s history, Clay has been a loyal customer and supporter of the philosophy and values of what we’re all about,” said founder Michael Barefoot. “As the company experienced the economic downturn in early 2009, like other businesses did, Hamner initiated discussions about helping the company grow.”
Barefoot will continue to play an active role in the business, as will longtime partners Tim Manale and Briggs Wesche.
“I will be fully engaged at A Southern Season for the next five years,” Barefoot said, “after which I plan to reduce my involvement to pursue other challenges and interests.”
TC Capital Fund is a joint venture between two Chapel Hill-based investment funds: Carrboro Capital Corporation and Tryon Capital Ventures LLC.
The founders of Carrboro Capital are Chapel Hill residents Hamner, Betty Kenan and Phil Phillips; the founders of Tryon Capital are Pete Coker and Peter Reichard.
The company also announced that Larry Shaw has been brought on board as president. Shaw, a Chapel Hill resident, has 20 years of retail experience.
– Staff Reports

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