AmeriMark Holdings LLC Acquires LTD Commodities LLC to Create Premier Catalog and E-Commerce Company With $800M in Combined Sales
CLEVELAND, December 20, 2017 (Newswire.com) - AmeriMark Holdings LLC, a leading catalog and e-commerce direct marketer of apparel, home, healthcare and personal care products for the 65+ aged baby boomer and senior market, announced today that it has acquired Illinois-based LTD Commodities LLC.
“The combination of AmeriMark Direct and Dr. Leonard’s Healthcare Corp. has proven to be a successful partnership with leveraging the size and strengths of both businesses. Adding LTD Commodities to our portfolio gives us increased scale to further strengthen our marketplace positioning,” said AmeriMark Holdings CEO, Mark Ethier.
AmeriMark Holdings will operate as 3 business units - Edison, NJ-based Dr. Leonard’s Healthcare Corp., Cleveland, OH-based AmeriMark Direct and the Bannockburn, IL-based LTD Commodities. Combined, AmeriMark Holdings will generate $800 million in sales with over 6.2 million active customers over 55 years of age. This is one of the largest databases of this market segment in the industry.
The combination of AmeriMark Direct and Dr. Leonard's Healthcare Corp. has proven to be a successful partnership with leveraging the size and strengths of both businesses. Adding LTD Commodities to our portfolio gives us increased scale to further strengthen our marketplace positioning.
Mark Ethier will remain as CEO of AmeriMark Holdings. Joe Albanese will remain as Executive Vice President and CFO of AmeriMark Holdings and President of Dr. Leonard’s Healthcare Corp. Michael Hara will serve in an advisory capacity to assist with the LTD transition.
“We are looking forward to joining the AmeriMark family of brands, continuing our past 50 years of success and offering our customers a wider breadth of products and services. The combined strength in management, talent, product and services will offer a best-in-class print and e-commerce organization,” said Michael Hara.
Prudential Capital Group, which first invested in AmeriMark in 2007, led the acquisition. PNC Bank provided financing for the acquisition. Blank Rome LLP served as legal counsel for AmeriMark Holdings. Lazard Middle Market LLC acted as financial advisor to LTD Commodities LLC. Greenberg Traurig, LLP served as legal counsel for LTD Commodities LLC.
About AmeriMark Holdings LLC
AmeriMark Holdings is a leading catalog and e-commerce direct marketer of healthcare, apparel, home and personal care products for the 65+ aged plus baby boomer and senior market. The Cleveland, Ohio-based business, AmeriMark Direct, has 8 distinctive catalog titles and e-commerce sites: Anthony Richards®, Time for Me®, Healthy LivingTM, Feel Good Store®, Beauty Boutique®, Complements®, Essentials®, and Windsor Collection®. The Edison, New Jersey-based Dr. Leonard’s Healthcare Corp. supports 2 catalog titles and e-commerce sites for Dr. Leonard’s Healthcare® and Carol Wright Gifts®. AmeriMark Holdings has combined sales of $450 million.
About LTD Commodities, LLC
LTD Commodities is one of the country’s premier catalog and online merchandisers, featuring home, personal care and apparel, products for 55+ aged consumer. Based in Illinois and in business for over 50 years, the company has been committed to selling top quality merchandise at tremendous value prices. Current sales exceed $350 million.
About Prudential Capital Group
Prudential Capital Group is an institutional investment business of PGIM, Inc., the asset management business of Prudential Financial, Inc., and is one of the largest managers of private corporate investments globally, with nearly $82 billion of private placements, mezzanine and structured equity investments in more than 1,000 companies (as of September 30, 2017).
Source: AmeriMark Holdings LLC