Potpourri Group announced yesterday that last month, it had acquired Cuddledown, Inc., a multichannel direct retailer of high-end bedding related products, for an undisclosed sum.
In a statement sent to the press, Potpourri Group president and CEO Jonathan Fleishmann said his company was attracted to Cuddledown because of the strength of its management team, led by president and CEO Chris Bradley, its impressive growth and the complementary nature of it product and customer base.
“We believe Cuddledown will benefit from the rebound in the housing market as well from (our) 17 million name customer database, with 2.7 million 12 month buyers,” Fleishmann said in the statement. “The core of this database is middle to upper income female baby boomers and is the same as Cuddledown’s.”
Yarmouth, ME-based Cuddledown is the third acquisition closed by Potpourri Group since 2010. It acquired Country Store from Readers Digest Association in 2010 and Fetch Dog from private investors in mid-2012.
Tully & Holland advised Cuddledown in its sale to Potpourri.