Bluestem Group announced the completion of its acquisition of Orchard Brands, a family of 13 catalog and eCommerce brands serving the boomer and senior demographics, for $410 million in cash.

The acquisition was funded with a combination of cash on-hand, a new term debt syndication, and a new asset-based lending facility. The term debt was underwritten by Credit Suisse Securities (USA) and Morgan Stanley Senior Funding, while Credit Suisse and U.S. Bank led the asset-based lending facility.

Bluestem Group was advised by its financial adviser Morgan Stanley and by its counsels Akin Gump Strauss Hauer & Feld and Faegre Baker Daniels. Orchard Brands was advised by its financial advisor Goldman Sachs and by its counsel Schulte Roth & Zabel.

Eden Prairie, Minesota-based Bluestem Group is a holding company whose businesses include Bluestem Brands, a multi-brand, online retailer of a broad selection of name-brand and private label general merchandise serving low- to middle-income consumers in the U.S. Bluestem operates Fingerhut, Gettington and PayCheck Direct brands.