YARMOUTH — Cuddledown, the high-end bedding retailer based in Yarmouth, has been acquired by a catalog company in Massachusetts.
Potpourri Group acquired Cuddledown in December, according to an announcement Thursday by American Capital Ltd., Potpourri’s parent company. Details of the transaction were not disclosed.
Cuddledown was founded in 1973 as a family business with one product: down comforters. Since then the company has grown to sell a diverse selection of bedding-related products through a catalog and a retail store in Freeport. All the company’s down bedding products are manufactured at its Yarmouth facility, according to the company’s website.
It’s not yet clear how the acquisition will affect the company’s Maine-based operations. A call to Cuddledown officials was not immediately returned Friday morning.
Potpourri, based in North Billerica, Mass., was formed in 1998 as a catalog company. It now has 13 diverse catalogs, though they all cater primarily to women.
The acquisition of Cuddledown will allow Potpourri to expand into the bedding product sector, according to a press release.
“(Potpourri’s) management team has significant experience successfully integrating additional brands into its portfolio, fueling organic revenue growth and realizing considerable cost savings,” Helen Yang, a principal in American Capital’s buyouts group, said in a statement. “The addition of Cuddledown adds valuable diversification to (Potpourri’s) current merchandise mix and its similar customer demographics are expected to promote future growth.”
American Capital is a global private equity firm that has invested in Potpourri since 2005.