Blue Point and Premier Needle Arts Are Tight-Knit with Crafts Americana Group, Inc.

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CLEVELAND, Feb. 27, 2017 (GLOBE NEWSWIRE) — Blue Point Capital Partners and its Blue Point III portfolio company, Premier Needle Arts (“PNA”), announced today the acquisition of Crafts Americana Group, Inc. (“CAG”), a leading supplier of knitting, crochet, quilting, sewing and other hobbyist products.  This transaction represents the third add-on acquisition for PNA since Blue Point acquired the platform investment in December 2014.

“From the onset, Blue Point’s focus was to turn Premier Needle Arts into a multifaceted business, and pursue acquisition opportunities in related quilting and other niche hobby fiber arts categories.  CAG’s product offering supplements and is a natural fit with PNA,” said Sean Ward, a Partner with Blue Point.  “Needle and fiber arts are about creativity, accomplishment and community, and we are excited to be a part of something…

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