User:Bridget/Warren Kanders

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Warren Beatty Kanders[1] is an American entrepreneur and investor... An arts patron, Kanders was trustee of the Whitney Museum in New York, before he resigned following protests at the museum surrounding Safariland's sales of tear gas...

Biography[edit]

Kanders's father worked as a periodontist in New Jersey.[2] He studied at the Choate School in Wallingford, Connecticut, and earned a bachelor's degree at Brown University in Providence, Rhode Island.[1]

Financial career[edit]

Early career[edit]

In the 1980s, Kanders worked in mergers and acquisitions at the New York investment firm Oppenheimer & Company.[2] He then worked for Canadian businessman Jim Pattison.[3]

Retail industry[edit]

Kanders was one of two bankers who created Benson Eyecare in 1992 from the merger of shell public company Ehrlich Bober, an optical retail chain and Benson Optical, which was acquired from the pension fund of General Electric for $2.3 million. Benson Eyecare relisted from the American Stock Exchange to the New York Stock Exchange (NYSE), and Martin E. Franklin served as its CEO, making Franklin the youngest CEO of a corporation listed on the NYSE.[4][5][6] Through a series of acquisitions and organic growth, Benson Eyecare grew from $40 million in annualized revenue in 1992 to $150 million in 1996, when the company was sold to Essilor for $300 million, creating a 23-fold return for early investors.[5][7] Forbes estimated that Kanders got more than $30 million from the transaction.[3]

Defense and policing industry[edit]

In 1996 he invested in the Florida-based American Body Armor, a company which was a predecessor to Armor Holdings, which manufactured of body armor equipment and provides security services.[8][9] By this time, he was president of a Connecticut-based investment company, Kanders & Company.[1] Armor Holdings acquired Safariland for $41 million in 1999.[9] Kanders partnered with Robert Schiller to develop the company; he predicted that the September 11 attacks would be followed by more conflict.[3]

Kanders received a $300 million payout when Armor Holdings was bought by BAE Systems for $4.1 billion in 2007.[10][9] The following year, in 2008, he began an effort to become CEO of the Federal Signal Corporation after announcing he held a 5.7% stake in the company; he also criticized the company for the sale of a subsidiary and later publicly alleged that its chairman of "may have been involved in a coverup of insider trading". In response to the allegation, the company said that it was "nothing more than another desperate attempt to undermine the credibility of the company's highly qualified board of directors".[11][12] Also in 2008, Kanders bought outdoor equipment manufacturer Gregory Mountain Products, which was part of Armor Holdings when it was purchased by BAE Systems.[9] Kanders and Rob Schiller were managers at Clarus Corporation, based in Connecticut, when in 2010, it purchased Gregory Mountain Products and the Utah-based Black Diamond Equipment, for a combined $135 million. Following the deal, the two companies were combined into one company, named Black Diamond, with Kanders as executive chairman.[13][14] Kanders became chairman and CEO of Safariland after it was purchased from BAE Systems for $124 million in 2012.[9][8]

Forbes estimated his net worth at $700 million in 2018, mostly derived from Safariland's value.[3]

https://www.forbes.com/forbes/2006/1030/146.html

Arts patronage[edit]

In 2006, Kanders joined the board of the Whitney Museum in New York.[15] By 2013, he and his wife had collected works by John Baldessari, Jeff Koons, Gerhard Richter, and Cindy Sherman. They redesigned their house in Greenwich, Connecticut, to incorporate their collection of contemporary art.[16] The couple endowed $2.5 million to the Aspen Music Festival and School in Colorado in 2016.[17] They were major donors to the Aspen Art Museum for 2017 to 2018,[18] and his wife, Allison, was a board member in 2018.[19]

Brown University advisory role[edit]

Kanders was part of the advisory council of the Institute at Brown for Environment and Society (IBES) at Brown University. An op-ed in The Brown Daily Herald authored by four fellow alumni that was critical of his involvement at IBES because Safariland's products had been allegedly used to "suppress protests, maim or kill activists and intimidate social movements." Kanders defended the company's products in a letter to the editor.[3]

Whitney Museum protests[edit]

Kanders was listed as a "significant contributor" to the Whitney Museum's retrospective exhibition on Andy Warhol on November 12, 2018.[15] By this time, he was vice chairman of the board.[15] An article in Hyperallergic magazine later that month connected Kanders to tear gas canisters thrown at the San Diego–Tijuana border which, according to journalist Patrick Timmons, were allegedly labeled with the Safariland logo.[15] The magazine previously reported on Kanders in 2015, connecting his arts patronage to riot gear sold by the company.[20] A few days later, around 100 museum employees signed an open letter asking the museum to request Kanders's resignation as they did not feel as though they could work at the museum with a defense contractor on its board.[15][3] Museum director Adam D. Weinberg responded to the letter, but did not specifically address Kanders or the request for his resignation, while Kanders released a statement in which he said he could provide facts about his company to facilitate "a more informed and constructive dialogue".[3]

Personal life[edit]

Family[edit]

Kanders was married to Sarah Phillips in 1982.[21] The marriage ended in divorce. Kanders married Allison Smith in 1998;[1] they have three children.[19]

Real estate[edit]

Kanders bought a 20-acre Colonial Revival house in Greenwich around 1996.[22][19] With his wife Allison, he had the property renovated by architect Oliver Cope and interior designer Mica Ertegun around 2001,[22] and later had the interiors redesigned with contemporary art by designer Joe Nahem, from the firm Fox-Nahem Associates, around 2013.[16][19] The couple purchased a townhouse in Greenwich Village, New York City, for $17.8 million in 2012.[23] They purchased the Palm Beach, Florida home of singer Jimmy Buffett and Buffett's wife for $6.9 million in 2020.[24] A limited liability company (LLC) connected to Kanders purchased the Palm Beach home of businesswoman Adrien Arpel for $25.38 million in 2021. It was sold for $39.9 million the following year, in June 2022, after the town did not approve the plan of a new house that Kanders and his wife sought to build on the property.[25][26] Later in June, Kanders's LLC purchased the Palm Beach home of Eugene Applebaum, founder of the Arbor Drugs drug stores, and Applebaum's wife for $56 million.[26] Kanders and his wife donated "nearly $400,000" of equipment from his company, Cadre Holdings, to the Palm Beach police department the following year.[27]

In 2010, Kanders and his brother, Alan, an investor and hotel owner, became owners of the Mayflower Inn & Spa in Washington, Connecticut, with the property's foreclosure.[28] Grace Hotels became a majority owner in 2013.[29] In 2011, he was reported to be part owner of the Hotel Saint-Barths Isle de France on the Caribbean island of Saint Barthélemy.[28][30]

References[edit]

  1. ^ a b c d "WEDDINGS; Allison Smith, Warren Kanders". The New York Times. June 28, 1998. Retrieved May 13, 2024.
  2. ^ a b "Sarah E. Phillips Plans Wedding". The New York Times. July 25, 1982. Retrieved May 17, 2024.
  3. ^ a b c d e f g Çam, Deniz (December 6, 2018). "Meet The Safariland Multimillionaire Getting Rich Off Tear Gas and More In The Defense Industry". Forbes. Retrieved May 25, 2024.
  4. ^ Petruno, Tom (January 3, 1993). "Stocks That Were Hot, Not So Hot in 1992: Year-End Tally: Stock of 'infomercial' company jumps 450%, while many health issues droop". Los Angeles Times. Retrieved May 3, 2024.
  5. ^ a b Gallagher, Leigh (October 27, 2003). "Master of the Mundane: Martin Franklin is making millions from kitchen matches, twine and canning jars". Forbes. Retrieved January 30, 2019.
  6. ^ Serwer, Andrew E. (April 17, 1995). "A Man with a Vision Consolidates the Eye-Care Business". Fortune. Retrieved January 30, 2019.
  7. ^ "Essilor Plans to Buy Benson Eyecare for $225 Million". The New York Times. Bloomberg Business News. February 13, 1996. Retrieved January 30, 2019.
  8. ^ a b Just, Olivia (July 31, 2012). "Kanders completes goal of buying body armor company". Connecticut Post. Retrieved May 18, 2024.
  9. ^ a b c d e Bull, Roger (July 30, 2012). "Jacksonville manufacturer of body armor part of $124 million sale". The Florida Times-Union. Retrieved May 14, 2024.
  10. ^ Newcomb, Peter (March 5, 2008). "America's 50 Richest Paydays". Vanity Fair. Retrieved May 3, 2024.
  11. ^ "Federal Signal lapse alleged". Chicago Tribune. August 19, 2008. Retrieved May 3, 2024.
  12. ^ Cundiff, Rick (July 1, 2008). "E-One firm candidate takes aim CEO hopeful ducks test, buys stock instead". Ocala StarBanner. Retrieved May 18, 2024.
  13. ^ Lee, Richard (May 10, 2010). "Clarus purchase unites two outdoor equipment makers". Stamford Advocate. Retrieved May 12, 2024.
  14. ^ Gorrell, Mike (May 10, 2010). "Utah's Black Diamond Equipment sold for $90 million". The Salt Lake Tribune. Retrieved May 12, 2024.
  15. ^ a b c d e Greenberger, Alex (March 22, 2019). "The Whitney Museum and Warren B. Kanders: A Timeline of the Controversy". ARTnews. Retrieved May 20, 2024.
  16. ^ a b Shaw, Dan (June 2013). "A Greenwich, Connecticut Home with Cutting-Edge Style". Architectural Digest. Archived from the original on June 5, 2013. Retrieved May 14, 2024.
  17. ^ Fort, Patrick (March 21, 2016). "Aspen Music Festival and School receives $2.5 million gift". Aspen Public Radio. Retrieved May 16, 2024.
  18. ^ Williams, Maxwell (August 6, 2019). "Mega collectors raise $2.3m at Aspen Art Museum's annual ArtCrush benefit". The Art Newspaper. Retrieved May 17, 2024.
  19. ^ a b c d Boodro, Michael (November 8, 2018). "On View: Allison and Warren Kanders Invite AD Into Their Art-Filled Sanctuary". Architectural Digest. Retrieved May 17, 2024.
  20. ^ Steinhauer, Jillian (July 1, 2015). "The Unlikely Connection Between the Whitney Museum and Riot Gear". Hyperallergic. Retrieved May 20, 2024.
  21. ^ "Marriage of Phillips / Kanders". Daily Record. New Jersey. September 19, 1982. p. 48. Retrieved May 26, 2024 – via Newspapers.com.
  22. ^ a b Thurman, Judith (October 1, 2001). "Mica Ertegun of MAC II Renovates an Estate on Long Island Sound". Architectural Digest. Retrieved May 14, 2024.
  23. ^ Velsey, Kim (June 22, 2012). "Art Patron and Business Bigwig Moves From Greenwich to Greenwich Village, Into $18 M. Hovanian Townhouse". The New York Observer. Retrieved May 14, 2024.
  24. ^ Hofheinz, Darrell (November 30, 2020). "Jimmy Buffett, wife sell house in Palm Beach for $6.9 million". Palm Beach Daily News. Retrieved May 17, 2024.
  25. ^ Hofheinz, Darrell (June 3, 2022). "Lakeside Palm Beach house brings $39.9M after selling last year for $25.4M, records show". Palm Beach Daily News. Retrieved May 17, 2024.
  26. ^ a b Hofheinz, Darrell (June 27, 2022). "Lakeside estate sells for $56 million in off-market deal, Palm Beach deed shows". Palm Beach Daily News. Retrieved May 17, 2024.
  27. ^ Wagner, Jodie (January 3, 2023). "Palm Beach Police get donation of ultralight tactical gear". Palm Beach Daily News. Retrieved May 21, 2024.
  28. ^ a b "Posh Mayflower Inn & Spa Has New Owners". Hartford Courant. July 28, 2011. Retrieved May 13, 2024.
  29. ^ Tuz, Susan (August 10, 2013). "Mayflower joins Grace Hotel group". Greenwich Time. Retrieved May 16, 2024.
  30. ^ Tuz, Susan (July 27, 2011). "Career hoteliers take the reins at Mayflower". CT Post. Retrieved May 18, 2024.
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