Potpourri Sold to American Capital Strategies

Chelmsford, MA-based multititle cataloger Potpourri Group has been acquired by Bethesda, MD-based buyout and mezzanine fund American Capital Strategies. This marks the third time that the $160.6 million Potpourri has been sold to a private equity firm since Miami-based HIG Capital bought it in 1998.

American Capital paid Cleveland-based private equity firm Linsalata Capital $188 million for Potpourri. Linsalata had bought the cataloger in October 2002.

Jack Rosenfeld will continue as chairman of Potpourri, with Jonathan Fleischmann serving as president/CEO.

Potpourri has acquired five companies since 1998. “The [Potpourri] team successfully acquired and integrated five successful catalog companies, comprised of nine titles, and we plan to accelerate that growth through an aggressive acquisition strategy,” says Brian Graff, a regional managing director with American Capital. “We also believe that many of the company’s existing titles, such as Catalog Favorites, Potpourri, NorthStyle, and Expressions, have tremendous organic growth opportunities.”

Potpourri’s 12 titles sell gifts, needlecrafts, jewelry, and toys. They target middle- and upper-income women 40-65.

David Solomon, managing director and partner of New York-based investment banking firm Goldsmith Agio Helms, and Mike Marhofer at the law firm of Calfee, Halter & Griswold represented Potpourri in the deal. Christopher Aidun of Weil, Gotshal & Manges provided legal advice to American Capital Strategies.

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