Bluestem Owner Acquires Orchard Brands
The parent company of Bluestem Brands, which operates in St. Cloud, is expected to acquire a similar business called Orchard Brands Corp.
Orchard announced Wednesday that it has a definitive agreement to be acquired by Capmark Financial Group Inc. for $410 million in cash.
Capmark is a holding company whose businesses include Bluestem, an online general merchandise retailer targeting low- to middle-income consumers nationwide. Bluestem operates Fingerhut, Gettington.com and PayCheck Direct brands. Capmark is headquartered in Eden Prairie.