Follett and Mirada Capital Join Forces to Elevate Campus Retail
Follett Partners with Mirada Capital for Innovative Merchandise Solutions
In an exciting development for the campus retail landscape, Follett Higher Education has forged a strategic partnership with Mirada Capital Group. This collaboration is set to enhance the way custom merchandise is offered on campuses across the nation. Follett, recognized as North America's largest campus retailer, has chosen to collaborate with Mirada Capital to take over operations of Advanced-Online, a leading on-demand product service catering to both higher education and corporate clients under the Follett On Demand brand.
Strengthening Custom Merchandise Offerings
Emmanuel Kolady, the CEO of Follett Higher Education, expressed enthusiasm for the new partnership, emphasizing the potential it holds for expanding customer reach and enhancing product offerings. He noted, "With Mirada Capital as our partner for on-demand products, we are confident that we'll be able to serve even more customers with one-of-a-kind merchandise and gifts." This strategic move aims to address the growing demand for customizable and branded merchandise, enabling campus partners to access premium products precisely when needed.
Focus on Core Business
The collaboration will allow Follett to refocus on its primary collegiate retail operations, while Advanced-Online, now under the guidance of Mirada Capital, is anticipated to experience significant growth. Leveraging Mirada's local leadership and targeted investments, Advanced-Online plans to enhance its technology infrastructure, ensuring both Follett's campus partners and corporate clients receive unparalleled service and innovation in their on-demand product offerings.
A Commitment to Campus Partners
Follett will maintain an equity interest in Advanced-Online, ensuring ongoing collaboration for on-demand products, custom decoration, licensing, and various merchandising necessities. This commitment reiterates Follett's intention to continuously support the needs of its campus partners. Jimmy Mathews, the Founder of Mirada Capital Group, expressed optimism about the potential of this partnership, stating, "At Mirada Capital, we believe in the power of partnership to drive sustainable growth." He underscored the excitement to work alongside Follett in delivering best-in-class products to campuses.
Sustaining Leadership in The Market
The transition will be spearheaded by Brian Schellbach, Vice President of Sales and Product Management at Advanced-Online. He will lead the team throughout the shift, ensuring a smooth transition for employees and clients alike.
About Follett Higher Education
Follett Higher Education is dedicated to supporting students' academic journeys by delivering innovative campus retail solutions and comprehensive course materials. With partnerships in over 1,000 colleges and universities, the company is committed to fostering student success through meaningful retail experiences that enhance campus pride and engagement.
About Mirada Capital Group
Mirada Capital Group, based in Texas, is a family office specializing in private equity investments within the lower middle market. With ample experience in retail, manufacturing, and technology transformations, Mirada Capital is focused on creating long-term value and scalable solutions while upholding responsible leadership practices.
Frequently Asked Questions
What is the purpose of the partnership between Follett and Mirada Capital?
The partnership aims to enhance the custom merchandise offerings available to campuses by utilizing Mirada Capital's expertise in managing Advanced-Online.
How will this partnership benefit Follett's campus partners?
It will allow Follett to provide more innovative, customizable products, and ensure they receive timely and high-quality service.
Who will manage Advanced-Online after the transition?
Brian Schellbach will continue to lead the Advanced-Online team, ensuring an efficient transition for all involved.
What areas does Mirada Capital focus on?
Mirada Capital specializes in private equity investments, particularly targeting the lower middle market, with a strong focus on retail and technology sectors.
How does Follett support academic institutions?
Follett provides tailored retail solutions and comprehensive resources that facilitate academic success and promote student engagement across universities.
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