American Capital’s portfolio company Potpourri Group (PGI) has acquired Cuddledown, a multi-channel retailer of high-end bedding related products.
PGI is a multi-brand direct marketer offering a broad product line of home decor, casual apparel, gifts and accessories through catalogues and the internet.
"Cuddledown’s product offering and merchandising expertise in the high-end bedding market makes the company an excellent addition to PGI’s diverse product mix and will give PGI the opportunity to expand into the bedding product sector," says Brian Graff, American Capital senior vice president and senior managing director.
American Capital first invested in PGI in 2005. Formed in 1998, Chelmsford, Massachusetts-headquartered PGI is a catalogue company with 13 diverse brands catering primarily to women.
Cuddledown sells high quality synthetic and down-filled comforters, pillows, sheeting and sleepwear. The company was founded in 1973 and is based in Yarmouth, Maine.
"We have developed a great relationship with American Capital since their initial investment in 2005 and look forward to continuing to work together on this exciting opportunity for PGI," says PGI president and chief executive Jonathan Fleischmann.
