American Capital Strategies acquires Potpourri Group for $188mn
22 Jun '05
5 min read
"PGI's multi-title format results in strong selling synergies. The Company is able to leverage its loyal customer base and effectively cross-market products and titles to likely buyers," said American Capital Principal Dale Stohr. "In addition, PGI's multiple titles create numerous operational efficiencies, resulting in a low cost, scalable platform."
"American Capital is backing a strong management with deep experience in the catalog industry and a proven track record of significantly growing the Company both organically and through strategic acquisitions," said American Capital Vice President Adam Spence.
"Under management's leadership, the Company has consistently grown revenues and improved margins by leveraging its scale across its product portfolio. We are confident in the management team and believe that they will capitalize on opportunities to enhance long-term growth, increase response rates and average order sizes, and improve productivity and margins.
Formed in 1998, Chelmsford, MA-headquartered Potpourri Group is a catalog company with 12 diverse titles catering primarily to women. Through its portfolio of catalogs, PGI offers a broad product line of distinctive home décor, casual apparel, gifts and accessories that are unique or difficult to find in other outlets. The Company's catalogs include: The Stitchery, offering needle craft and cross stitch products; Expressions, offering home and garden décor and unique collectiblesiverse titles catering primarily to women. Through its portfolio of catalogs, PGI offers a broad product line of distinctive home décor, casual apparel, gifts and accessories that are unique or difficult to find in other outlets. The Company's catalogs include: The Stitchery, offering needle craft and cross stitch products; Expressions, offering home and garden décor and unique collectibles and accessories; Potpourri, offering a unique range of sentimental and whimsical gifts, home décor items and personalized items; Back in the Saddle, offering equine-themed home décor, casual apparel and gifts; Nature's Jewelry, offering nature-themed jewelry, casual apparel and gifts; NorthStyle, offering cabin-themed home décor, casual apparel and jewelry; The Pyramid Collection, offering personal growth, spiritual and meditation gifts, home décor items, apparel and jewelry, Serengeti; offering nature and wildlife themed gifts, casual apparel and gifts; In the Company of Dogs, offering dog-themed merchandise for pet owners; Young Explorers, offering educational toys and games; Whatever Works, offering home improvement and utilitarian household products; and Catalog Favorites (pictured at left), offering a combination of the best selling items from all the catalogs in PGI's portfolio.
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