05 February 2016

Miller Johnson represents Bloem in the carve-out acquisition of Fiskars’ American Designer Pottery Business

The Transaction
In January, 2016, Miller Johnson represented Bloem, LLC (Bloem) in connection with its acquisition of the American Designer Pottery (ADP) Business from Fiskars Brands, Inc. The ADP Business recorded sales of $27.5 million in 2015 and employs nearly 150 employees during peak production at its 260,000 square foot production facility located in Apopka, FL.

“We are acquiring ADP from Fiskars because we see significant synergies between the companies’ marketing and manufacturing capabilities with very little redundancy,” said Ryan Mast, president and founder of Bloem. After the acquisition, Bloem’s reach will now extend into more than 10,000 retailers in all 50 states and across Canada, selling through key national retailers and co-op stores as well as independent and family-operated home and garden centers.

On Miller Johnson’s role in the transaction, Ryan Mast stated that “throughout our acquisition, MJ was able to provide the highest level of expertise with guidance that positioned us to close on a favorable basis.”

DWH performed financial and operational due diligence for Bloem in the transaction. Huntington Bank provided senior debt financing to Bloem for the transaction. Miller Johnson’s transaction team consisted of Dustin Daniels (M&A counsel), Max Barnes (Corporate), Brittany Harden (Corporate; Intellectual Property), Neil Williams (Tax), James Ens (Real Estate), James Bruinsma (Employee Benefits), Nate Plantinga (Labor) and Alan Schwartz (Environmental).

( Bloem, LLC is a privately held company headquartered in Hudsonville, Michigan. Founded in 2012, the acquisition of Fiskars’ American Designer Pottery Business is Bloem’s third acquisition in as many years. Bloem’s vision is to bring innovation, design, marketing, and an aggressive sales force to the home and garden industry, and has emerged as one of the fastest-growing brands in the segment.

Fiskars Corporation (HEL:FISIV)
( Established in 1649, Fiskars Corporation has grown to be a leading consumer goods company with globally recognized brands and products available in more than 100 countries. Fiskars’ mission is to enrich people’s lives in home, garden and outdoor.

Miller Johnson Mergers and Acquisitions Group
Miller Johnson’s M&A practice group is adept at negotiating, structuring, and advising clients with respect to the various challenges that arise in the context of mergers, acquisitions, dispositions or other business combinations.

Miller Johnson has a tier one ranking for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked among America’s best by Chambers USA. At the 2015 M&A Deals and Dealmakers Awards presented by the Association for Corporate Growth (ACG) West Michigan chapter and MiBiz, Miller Johnson attorneys were involved in a deal honored as a finalist for the Best Company Deal ($25 million to $150 Million) category. Another Miller Johnson transaction was a finalist at the national 2015 M&A Advisor Awards.

For further information, please contact Dustin Daniels at (616) 831-1737 or Max Barnes at (616) 831-1725.