Jimmy Beans Wool Joins Local Crafts Group in Strategic Acquisition
Deal News | Apr 16, 2025 | Blue Point Capital Partners LL
Blue Point Capital Partners, alongside its portfolio company Local Crafts Group, has acquired Jimmy Beans Wool, a major player in the yarn and fiber arts market. Jimmy Beans Wool, established in 2002 by Laura and Doug Zander, will become part of Local Crafts, which oversees various brands within the crafting sector. This strategic acquisition enhances Local Crafts' offerings with high-quality yarns and crafting accessories, and leverages Jimmy Beans' established brands like Madelinetosh and della Q. CEO Veronica Collins of Local Crafts emphasizes the community-focused mission of the brands and welcomes Laura Zander to their executive team as Chief Brand Officer to drive growth and innovation. The integration into Local Crafts expands the reach of Jimmy Beans' products across North American markets, strengthening the future growth potential and operational capabilities of Local Crafts and the broader Blue Point portfolio.
Sectors
- Crafting and Hobby Supplies
- Private Equity
- Retail and Distribution
Geography
- United States – The primary activities, including the headquarters of Jimmy Beans Wool and the operational base of Local Crafts, occur within the U.S.
- Canada – The distribution network mentioned includes operations across Canada, an extension of the company’s geographical footprint.
Industry
- Crafting and Hobby Supplies – The article primarily focuses on the crafting industry, involving companies that produce and distribute yarns, knitting, and crocheting tools.
- Private Equity – Blue Point Capital Partners, a private equity firm, is a central figure financing and guiding the acquisition and growth strategy.
- Retail and Distribution – Jimmy Beans Wool acts as a retailer and distributor within the fiber arts market, crucial to the context of the acquisition.
Financials
- $1.8 billion – The amount of committed capital managed by Blue Point Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blue Point Capital Partners | Financial Backer | Company | A private equity firm managing over $1.8 billion, providing funding and strategic support. |
| Local Crafts Group | Acquiring Company | Company | A portfolio company of Blue Point, focused on knitting, crocheting, and fiber arts supplies. |
| Jimmy Beans Wool | Target Company | Company | A retailer and distributor of yarn and crafting tools, newly acquired by Local Crafts. |
| Laura Zander | CEO/Chief Brand Officer | Person | Co-founder of Jimmy Beans Wool, joining Local Crafts as Chief Brand Officer. |
| Megan Kneipp | Managing Director, Business Development | Person | Responsible for business development at Blue Point Capital Partners. |
| Sean Ward | Partner | Person | A partner at Blue Point Capital Partners, involved in strategic decision-making. |