Bain-Backed Catalog Retailer Bluestem Brands Said to Seek Buyers
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Bluestem Brands Inc., which sells cosmetics and home goods to low- and middle-income customers through websites and catalogs, is working with Lazard Ltd. as it explores a sale, people with knowledge of the matter said.
The Eden Prarie, Minnesota company may fetch as much as $1 billion in a sale, two of the people said, asking not to be identified discussing private information. It has drawn early interest from private-equity funds and publicly traded special-purpose acquisition companies, or SPACs, two people said, without identifying any potential bidders.