Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Potpourri Group's acquisition of FetchDog.
June 11, 2012 - Potpourri Group acquires FetchDog, the high end dog accessories catalog and online merchant founded by actress, Glenn Close, and her husband, David Shaw, for an undisclosed amount.
Although Potpourri already markets similar products through their In the Company of Dogs business, Potpourri describes the FetchDog purchase as adding a complimentary rather than competitive line of business to their portfolio of catalog and online companies.
Potpourri Group President and CEO, Jonathan Fleischman, said he was initially attracted to the similarity in product assortment and price points between In the Company of Dogs and FetchDog.
According to Chris Kampe, Tully & Holland's Retail Group Managing Director, "This transaction is consistent with the theme about ecommerce dominating multichannel M&A transactions, with both catalog companies and brick-and-mortar retailers acquiring internet retailers in similar product categories.
With less customer file duplication than expected, the FetchDog business and its customer list has been welcomed into the In the Company of Dogs business and the combination is expected to produce a roughly 30% increase in the combined buyer housefile circulation.
By leveraging its existing merchandising and fulfillment infrastructure, Chris expects Potpourri to improve FetchDog's profitability. "I expect they will attempt to cross-sell and cross-fertilize the two entities lists. According to Fleischmann, "FetchDog customers will receive co-branded catalogs and are already being directed to a similarly co-branded website".