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Special Situations/Distressed • Retail

Cerberus Capital Management Acquires Bluestem Brands

On July 7, 2020, asset manager Cerberus Capital Management acquired retailer Bluestem Brands for 250M USD

Acquisition Context
  • This is Cerberus Capital Management’s 7th transaction in the Retail sector.
  • This is Cerberus Capital Management’s 13th largest (disclosed) transaction.
  • This is Cerberus Capital Management’s 50th transaction in the United States.
  • This is Cerberus Capital Management’s 2nd transaction in Minnesota.

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M&A Deal Summary
Date July 7, 2020
Target Bluestem Brands
Sector Retail
Buyer(s) Cerberus Capital Management
Deal Type Special Situations/Distressed
Deal Value 250M USD

Target Company

Bluestem Brands

Eden Praire, Minnesota, United States
Bluestem Brands is a multi-brand retailer, delivering a wide selection of products and shop-at-home convenience through e-commerce and direct marketing via the Fingerhut and Gettington.com brands. In addition to offering a large selection of brand name products, our brands also offer a variety of credit options to provide families on a budget the flexibility of paying over time. Bluestem Brands was founded in 2002 and is based in Eden Prairie, Minnesota.
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Buyer Overview 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

Deal Context for Buyer #
Overall 73 of 93
Sector: Retail 7 of 7
Type: Special Situations/Distressed 12 of 13
State: Minnesota 2 of 4
Country: United States 50 of 68
Year: 2020 2 of 4
Size (of disclosed) 13 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-26 Albertsons

Boise, Idaho, United States

Albertsons is a food and drug retailer. Albertsons operates under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs, as well as meal kit company Plated. Albertsons was formed in 1939 and is based in Boise, Idaho.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-15 School Specialty

Greenville, Wisconsin, United States

School Specialty is a provider of online educational products and services to the Pre-K- 12th grade market in the U.S. and Canada. The company designs, manufactures and distributes a broad assortment of furniture & equipment, educational technology, general and specialty classroom supplies, facility supplies, safety and security products, and core and supplemental curriculum for science, math and English language arts. School Specialty was founded in 1959 and is based in Greenville, Wisconsin.

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