Creative Co-Op Inc., a portfolio company of Eureka Equity Partners, announced its acquisition of Bloomingville A/S, a leading European designer and distributor of home lifestyle products. Based in Denmark, Bloomingville markets its products under the Bloomingville and Day Birger et Mikkelsen Home brands, sold in thousands of independent retail storefronts and premier department stores across Europe.
Eugene Wang, Creative Co-Op’s President of Asian Operations stated, “Bloomingville’s rapid growth in Europe and market-leading design aesthetic make the brand an ideal fit for our group vision to create a leading position in home lifestyle products worldwide. Coupled with its industry leading design and sourcing capabilities, the Creative Co-Op Group is poised for continued growth as it solidifies its position as a global leader in the home décor industry.”
As part of the transaction, Simon and Betina Stampe, previous owners of Bloomingville, will continue to steward the Bloomingville brand as well as spearhead Creative Co-Op Group’s European operations. “We have long wanted to develop our business by establishing strategic partnerships to create a large and significant player in the European landscape of home accessories,” said Simon Stampe. “With the addition of marketing capabilities outside of Europe and a well-established Asian sourcing operation, we have now found our perfect match.”
The acquisition marks an important milestone for Creative Co-Op. Founded in 2001, the Company has steadily grown to become one of the largest players in the US gift and home accessories industry, dedicated to servicing the independent retail channel and earning accolades such as a Retailer Excellence Award (2012) and consecutive ARTS Awards (2012 and 2013). In 2009, the Company embarked upon creating its own Asian distribution channel, which today is evidenced through its extensive network of distributors across Asia as well as over forty branded storefronts throughout China. “In Bloomingville, we saw the unique opportunity to enter Europe, as well as take a leadership position in a highly fragmented industry across both the US and Europe,” said Lee Wang, President of Creative Co-Op. “We feel that we now have perhaps the only viable global distribution platform within the industry, and are extremely excited about the growth opportunities ahead of us.”
About Creative Co-Op
Creative Co-Op is based in Memphis, Tennessee and has permanent showrooms in Atlanta, Dallas, Las Vegas, and Memphis. Additional information may be found at the companies’ web sites:
About Eureka Equity Partners
Eureka Equity Partners is a private equity firm targeting niche market leaders with up to $100 million in revenue across industry segments in which Eureka brings significant experience and operating resources, including business services, health care services, specialty manufacturing and consumer products. Eureka focuses on partnering with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business. With this core principle that aligns the interests of our operators and our investors, Eureka is also experienced and comfortable effecting minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Equity Partners can be found at www.eurekaequity.com.