Federated Sells Two More Pieces of Former Fingerhut

Share this content:
Federated Department Stores Inc. took another step yesterday in the disposal of assets that had been part of former subsidiary Fingerhut Companies as it announced that the assets of Arizona Mail Order and Figi's catalog operations were acquired by JPMorgan Partners LLC.


Terms of the deal were not disclosed. JPMorgan Partners LLC is the private equity arm of J.P. Morgan Chase & Co.


Federated spokeswoman Carol Sanger said the Popular Club title remains to be dealt with and that the company "should have something on that in the near term" regarding its sale.


Regarding yesterday's announced deal, she said "several months" when asked how long it had been in the works.


Arizona Mail Order, Tucson, AZ, markets women's apparel through its Old Pueblo Traders, Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Regalia, Intimate Appeal and Coward Shoe catalogs.


Figi's, Marshfield, WI, markets food and specialty gift products through its Figi's and JF Collection titles.


The businesses, with more than 3.7 million active customers, will be combined into a new holding company to be known as Crosstown Traders, Inc.


Michael Sherman, former president of Fingerhut, was identified as vice chairman of Crosstown in a statement issued yesterday and Steven Lightman was identified as president/CEO.


Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here