Potpourri Acquires Whatever Works
Potpourri, owned by Cleveland-based private equity investment group Linsalata Capital Partners, has annual revenue of $150 million and a house file of more than 2 million names. Its catalog titles include Back in the Saddle, Catalog Favorites, Expressions, In the Company of Dogs, Nature's Jewelry, NorthStyle, Potpourri, Pyramid Collection, Serengeti, The Stitchery and Young Explorers. Product categories covered by the books include personal gift, home décor, casual apparel, jewelry and crafts.
The Whatever Works deal satisfies Potpourri's interest in entering the home and garden improvement category, according to a statement from the company.
"The Whatever Works customer profile is an excellent fit with our core female demographic," Potpourri chairman Jack Rosenfeld said in the statement. "In addition, the Whatever Works business is strongest in the first half of the calendar year, which complements our gift catalogs that are strongest in the second half of the year."
The acquisition was made possible by the completion earlier this year of a 100,000-square-foot addition to Potpourri's distribution center in Whitinsville, MA, Rosenfeld said.