Federated unloads two more Fingerhut assets
Home Accents Today Staff -- Home Accents Today, October 31, 2002
Cincinnati — Federated moved closer to ridding itself of the remaining assets of its former Fingerhut catalog company with the sale of Arizona Mail Order and Figi's catalog operations to JPMorgan Partners LLC, the private equity arm of J.P. Morgan Chase.
The two catalog operations, which reach more than 3.7 million customers, will be operated under a new holding company called Crosstown Traders Inc. Arizona Mail Order markets predominantly women's apparel; Figi's markets food and specialty gifts.
The deal leaves Federated with only Popular Club Plan, a membership-based general merchandise catalog, remaining from its Fingerhut business.