Home / Knowledge / News / Apparel/Garments / Bluestem acquires online apparel retailer Orchard Brands
Bluestem acquires online apparel retailer Orchard Brands
15
Jul '15
Multi brand online retailer Bluestem Group completed acquisition of Orchard Brands Corporation, also an online retailer of multi-brand family of 13 catalogue and ecommerce brands.

The deal, according to a Bluestem Group press release, has been done for $410 million in cash, which however are subject to customary purchase price adjustments.

“The transaction will broaden and diversify the customer base and retail capabilities of Bluestem Group’s wholly-owned subsidiary, Bluestem Brands,” it added.

The acquisition was funded with a combination of cash on-hand, a new term debt syndication, and a new asset-based lending facility.

The term debt was underwritten by Credit Suisse Securities (USA) LLC and Morgan Stanley Senior Funding Inc., while Credit Suisse and U.S. Bank National Association led the asset based lending facility.

Bluestem Group was advised by its financial adviser Morgan Stanley & Co. LLC and by its counsels Akin Gump Strauss Hauer & Feld LLP and Faegre Baker Daniels LLP.

While, Orchard Brands was advised by its financial advisor Goldman Sachs and by its counsel Schulte Roth & Zabel.

Bluestem Group is a holding company whose businesses include Bluestem Brands, a multi-brand, online retailer of a broad selection of name-brand and private label general merchandise.

Bluestem operates Fingerhut, Gettington and PayCheck Direct brands and complementing each brand is a large selection of merchandise.

Orchard Brands is a national multi-channel direct marketer offering apparel, accessories, and home products for women and men principally in the rapidly growing boomer and senior demographic.

The Orchard Brands portfolio includes Blair, Haband, Norm Thompson, Solutions, Sahalie, Gold Violin, Appleseed’s, Tog Shop, LinenSource, Draper’s & Damon’s, Old Pueblo Traders, Bedford Fair and WinterSilks.

Orchard distributes more than 512 million catalogues and mailers annually and operates dedicated internet sites for each brand. (AR)

Fibre2Fashion News Desk - India


Must ReadView All

Trump open to pushing off Mar 1 deadline for China talks

Textiles | On 21st Feb 2019

Trump open to pushing off Mar 1 deadline for China talks

Expressing optimism over the ongoing ‘complex’ trade talks with...

Chinese textile city to harm Egypt's domestic industry

Textiles | On 21st Feb 2019

Chinese textile city to harm Egypt's domestic industry

Setting up of a Chinese textile city in Egypt will severely harm the...

Pakistan's textile exports up 1.19% in July-Jan FY19

Textiles | On 21st Feb 2019

Pakistan's textile exports up 1.19% in July-Jan FY19

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search