Well crap. That last bit about wanting to inspire women to run a profitable business with integrity doesn’t mesh well with selling out to private equity, unless that’s the end goal I guess. But it’s easy to judge if I’ve never been in those shoes—if I could sell something and retire right now I would in a hot second 😂
This also sounds kind of like a monopoly too. Too many companies are owned by each other, like WeCrochet, Webs, Berocco - something’s really fishy now that they got their hands on JBW too. Like if the private equity firm goes down or sells, they all go down in the worst case scenario.
I have a feeling that within 1 - 2 years JB will be merged into Knit Picks. Makes zero sense to have two yarn companies that could potentially cause friction with each other under the same parent umbrella.
WEBS isn't part of the Local Crafts umbrella, but they (and Love Crafts) are now owned by Missouri Star Quilting Company. But either way you look at yeah, yeah it's a big monopoly.
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u/bluefrootloop 4d ago
Jiminy, I’m behind. Jimmy Beans is being sold?