120 North Meadows Road Medfield, MA 02052
H.I.G. Capital LLC
1001 Brickell Bay Drive
Miami, Florida 33131
Potpourri Acquires Its 11th Catalog Title Since 1998
MEDFIELD, MA - February 9, 2001 - Potpourri Holdings, Inc. announced today it purchased the assets of the catalog In the Company of Dogs (ICOD). ICOD is the premium catalog in the dog product/gift field, offering high quality items for dogs as well as dog themed apparel and home furnishings. ICOD's product offering as well as its customer base are perfectly aligned with Potpourri's catalog titles. Accordingly, ICOD is a strong strategic fit, which Potpourri believes will yield a significant return on investment. Jack Rosenfeld, CEO of Potpourri, stated: "We are very excited about adding this premium niche catalog to our portfolio. Because of the strong strategic fit, we will be able to manage this business by utilizing our existing talent in Massachusetts supplemented by two experienced merchants from ICOD." ICOD is the eleventh catalog title acquired by Potpourri since it was purchased in 1998 by H.I.G. Capital, a private equity group with over $1 billion in assets under management. Potpourri's revenues in 2000 were in excess of $100 million, and its principal catalog titles include Potpourri, Catalog Favorites, Expressions, The Stitchery, Natures Jewelry and Back in the Saddle.
About H.I.G. Capital
H.I.G. Capital (http://www.higcapital.com) is a leading private equity and venture capital investment firm with more than $750 million of equity capital under management and specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. has investments in over 40 portfolio companies with combined revenues in excess of $3 billion. H.I.G. has substantial operating, consulting, technology and financial management experience, enabling it to contribute meaningfully to its portfolio companies and has considerable expertise in information technology and e-Business
Potpourri (http://www.potpourrigift.com/) based in Medfield, Massachusetts, founded in 1963, is a leading home/gift and knitting craft cataloger marketed under the titles of Potpourri, Expressions, The Stitchery, Counted Cross Stitch, and Back in the Saddle, Inc. Potpourri distributes more than 30 million catalogs per year. Potpourri has established an extensive infrastructure of in-house catalog design capabilities, logistics and distribution center, information systems and in-house fulfillment center which will continue to support its aggressive growth strategy.