Acquisition-minded Fingerhut set to buy N.J. catalog merchant

Article Abstract:

Fingerhut Cos. of Minnetonka, MN, is set to receive some 660,000 additional customers and a wider penetration of the moderate-income market with its entry into a deal for the purchase of Garfield, NJ-based Popular Club, a direct seller of furniture and other general merchandise. The Texas Pacific Group-owned target is expected to be expanded by Fingerhut to include markets outside its Northeast base if the deal pushes through. With yearly sales of $180 million, the cataloger is hoped to boost Fingerhut's 1997 sales of $85.2 million in the furniture sector.

Comment:

Enters into a deal for purchase of Garfield, NJ-based Popular Club, direct seller of furniture and other general merchandise

Asset sales & divestitures, New Jersey, Mail Order Houses, Electronic Shopping and Mail-Order Houses, Mail order business, Fingerhut Corp., Popular Club

Pride acquires Syroco plant

Article Abstract:

Pride Outdoor Products, a specialist of PVC furniture, has purchased the 80,000-sq-ft plant that manufactures tubular aluminum furniture in Syroco, Costa Rica. The Syroco facility is expected to more than double Pride Outdoor's sales in 1998 to a forecasted $22 million against $9 million in 1997. The newly-acquired factory joins the 15,000-sq-ft cast-aluminum foundry that Pride Outdoor is currently transforming from nautical components to furniture in Costa Rica, where Pride Outdoor has its own 60,000-sq-ft facility for tubular PVC furniture.

Comment:

Purchases the 80,000-sq-ft plant that manufactures tubular aluminum furniture in Syroco, Costa Rica

Costa Rica, Household Furniture NEC, Household Furniture (except Wood and Metal) Manufacturing, Household furniture, Pride Outdoor Products Inc.

Simmons opens Dallas plant

Article Abstract:

Simmons Co. of Atlanta, GA, a major manufacturer of beddings, has unveiled a new 140,000-sq-ft manufacturing facility in Dallas, TX, located near the Dallas/Fort Worth airport in Texas. The company, the maker of BackCare, Sleep Logic and Beautyrest mattresses, has over 2,500 employees at 18 manufacturing facilities located in the US and Puerto Rico. Simmons, whose new plant is bigger by 48% compared to the facility it replaced, has hired an additional staff of more than 40 to augment its previous workforce.

Comment:

Has unveiled a new 140,000-sq-ft manufacturing facility in Dallas, TX, located near the Dallas/Fort Worth airport in Texas

United States, Mattresses & Bedsprings, Mattress Manufacturing, Simmons Co.