Hedge Fund Acquires Popular Club

Catalog and Internet marketer Popular Club has been acquired by an unnamed hedge fund based in New York. The fund had previously acquired Popular Club’s parent DMSI catalogs, and also owns and operates gadgets and kitchenware direct marketer Ronco.

Popular Club, which has been in business for more than 60 years, had fallen on hard times of late. But up until recently, it had generated annual sales in excess of $200 million, according to a company release.

“The business has been neglected for the past few years, but with professional systems and management, the inclusion of a strong overseas capability, the business can be scaled quickly and profitably,” said incoming chairman and interim CEO Larry Nusbaum, in a statement.

Popular Club’s 250+ page catalog offers a wide variety of home improvement, house wares, cosmetics, apparel, and jewelry. Its target market includes urban centers, including working women and men who do not have the time to shop or do not possess a credit card.

“We acquired the business because we believe that we can expand the Popular Club footprint from it’s Northeastern roots,” Nusbaum added. “The core team is intact, the model is time tested, and we are eager to launch our new fall catalog in September.”