AmeriMark Direct has acquired Dr. Leonard’s Healthcare Corporation, creating one of the largest databases in the over-55 market segment.
The combined customer lists for AmeriMark and Dr. Leonard’s will contain more than 6 million active customers over the age of 55. AmeriMark sells women’s apparel and accessories as well as brand name cosmetics via catalogs such as Anthony Richards, Beauty Boutique, Complements and Healthy Living. Dr. Leonard’s offers a value-priced assortment of health and wellness products and beauty and gift items via its Dr. Leonard’s and Carol Wright Gifts catalogs. The two businesses generate combined sales in excess of $425 million.
Private equity firm JH Partners LLC, which has also invested in Bare Escentuals, Design within Reach and Frette, led the acquisition and provided the equity financing alongside AmeriMark management.
Upon completion of the merger, AmeriMark Holdings will become the parent organization. Tom McIntyre will remain president of Dr. Leonard’s. AmeriMark’s operations in Cleveland and Dr. Leonard’s facilities in Edison, NJ, and Lincoln, NE, will not be relocated.
“The marriage of these well-established, successful businesses that serve a similar customer is truly an opportunity to enhance both companies through many exciting synergies,” said Gary Giesler, president and CEO of the newly formed AmeriMark Holdings, in a statement.” A large and solid customer base coupled with AmeriMark’s innovative marketing strategies and Dr. Leonard’s first class sourcing and fulfillment capabilities provide a powerful combination.”