BrickHouse Photo School

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Polaroid Acquired by Hilco Consumer Capital, L.P. and Gordon Brothers Brands, LLC

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I will often publish media releases related to photography on this blog in order to help keep you informed. These media releases are created by the respective companies. I edit the releases for space as needed.

A joint venture led by Gordon Brothers Brands, LLC (“GBB”) and Hilco Consumer Capital, L.P. (“HCC”), which includes private equity fund Knight’s Bridge Capital Partners and other institutional investors, announced today the Federal Bankruptcy court for the district of Minnesota approved its acquisition of substantially all the assets of Polaroid(R), including the Polaroid brand, intellectual property, inventory and other assets. Jeffrey Hecktman, Chairman and CEO of The Hilco Organization, and Michael Frieze, CEO of Gordon Brothers Group, are proud to have Polaroid associated with their organizations and as a leading brand in their distinguished portfolios.

The joint venture partners, who recently acquired The Sharper Image, Linens ‘N Things and Bombay brands, plan to develop a full-scale global licensing and marketing strategy for wholesale, direct-to-retail (DTR) and e-commerce businesses to leverage Polaroid’s innovative and pioneering heritage.

Stephen Miller, Co-President, Gordon Brothers Retail Group stated, “Polaroid is an iconic brand known globally for their technical innovation and high-quality products that deliver on its reputation of ease-of-use. As a Boston-based company, it’s a privilege to keep Polaroid’s roots in America while expanding the brand internationally.”

“The Polaroid brand has immense global appeal that translates into almost all categories,” commented Jamie Salter, CEO of Hilco Consumer Capital. “This is a terrific opportunity to unlock Polaroid’s brand value and transform its multi-channel platform of diverse and unique consumer products using leading technologies and trend-setting innovations.”

During its 72-year history, Polaroid has developed one of the world’s most widely recognized consumer brands. The joint venture recognizes that Polaroid’s unique “innovation-made-simple” brand platform has global appeal across a wide demographic and can be expanded to numerous product categories. The Polaroid brand began with polarized sunglasses, evolved into instant film, camera and camera accessories, and expanded well beyond into flat panel televisions, portable DVD players, digital photo frames, digital HD camcorders, waterproof digital cameras and more.

Always on the cutting edge of the latest “instant” technologies, Polaroid is also responsible for the world’s very first ZINK enabled printing device. The Polaroid PoGo Instant Mobile Printer offers the capability to print and share 2”x3” borderless, color images from a camera cell phone or digital camera in under a minute. In 2009, Polaroid unveiled a digital camera with the same printing capabilities, the palm-sized PoGo Instant Digital Camera.

The flexibility of the Polaroid brand offers limitless potential to embark on additional product opportunities, ranging from consumer electronics to commercial imaging. The joint venture intends to partner with a number of global institutions in the ongoing development of the Polaroid brand.

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Written by jeremyparce

April 28, 2009 at 6:12 am

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