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PRINT THIS PAGE Advent International acquires US craft product supplier Making Memories from Peterson11/05/2005. Source: AltAssets. 
 Mid-market buy-out firm Advent International has acquired Making Memories from Salt Lake City-based Peterson Partners, with management retaining a significant ownership stake following the transaction. Utah-headquartered Making Memories supplies proprietary craft products to international retailers and distributors. Financial details have not been disclosed.
Steven Collins, a principal at Advent International, said, 'The company's sales distribution includes independent craft stores, leading national retailers, and big-box stores. We have strong confidence in the management team's ability to continue to execute their successful growth strategy, which has already established Making Memories at the forefront of the industry.'
David Mussafer, a managing director at Advent International, added, 'Over the past two years, we recognised the potential of the scrap-booking market with its impressive growth characteristics and significant fragmentation within the industry. We proactively contacted the leading companies in the sector and identified Making Memories as a business with considerable potential.'
A few days ago Advent announced that it had acquired Fat Face, a multi-channel retailer of branded lifestyle clothing and accessories, for an undisclosed amount from UK group ISIS Equity Partners.
The firm has recently held a final close on its new buy-out fund with commitments of around €2.5bn.
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