Potpourri Holdings, Medfield, Massachusetts, an $80 million multiple-title catalog marketer, Monday acquired Catalog Ventures, a wholly-owned subsidiary of ValueVision International, Minneapolis, for $5 million cash and up to an additional $5.5 million contingent upon performance over the next year.
ValueVision’s core business is its Home Shopping Network; this latest sale represents its continued strategy of divesting noncore businesses. Last year it shuttered its HomeVisions catalog, and it expects to divest its last remaining direct mail company, Beautiful Images Inc., a woman’s undergarment and apparel marketer, in the near future.
Gruppo, Levey & Co., New York, represented ValueVision in the deal.
