Milwaukee-based investment banking firm Corporate Financial Advisors announced today it has completed the sale of a division of Fiskars Brands Inc. to a Michigan company for an undisclosed price.
The Fiskars container gardening division has been acquired by Hudsonville, Mich.-based Bloem LLC, a planter and outdoor living product manufacturer. CFA served as exclusive advisor to Fiskars in the transaction, which includes its American Designer Pottery manufacturing and distribution facilities in Apopka, Fla.
Bloem now owns 30 percent of the decorative planter market. Fiskars decided to sell the American Designer Pottery business to instead focus on its core U.S. product catergories.
Finland-based Fiskars was founded in 1649 and makes home, garden and outdoors products. It is a leading scissor brand, and its orange-handled scissors are a registered trademark. The company, which has a location in Madison, is currently building an Americas headquarters in Middleton, which is expected to open in the fall.
“This transaction was a perfect fit for both parties,” said Joe Froehlich of Corporate Financial Advisors. “American Designer Pottery will allow Bloem to rapidly expand their already successful presence in the container gardening category, while allowing Fiskars to focus its resources on its other leading branded products. It is truly a win-win situation.”
“We are acquiring American Designer Pottery from Fiskars because we see significant synergies between the companies’ marketing and manufacturing capabilities with very little redundancy,” said Ryan Mast, president and founder of Bloem. “Following the acquisition, Bloem will be the leading decorative planter brand, with reach into national retailers, regional co-op stores and independent home and garden centers.”