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Celebrated upstate NY home design company sold

May 8, 2008

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AURORA, N.Y. - A private equity firm with offices in Rochester and Manhattan has purchased MacKenzie-Childs from American Doll creator Pleasant Rowland, who rescued the high-end home furnishings company from bankruptcy seven years ago.

Terms of the deal were not disclosed.

Twin Lakes Capital managing partner Lee Feldman said buying the company was a unique opportunity.

"MacKenzie-Childs is a fantastic brand, making a fantastic high-quality product and a unique product," Feldman said Wednesday. "MacKenzie-Childs has been doing something different with their design aesthetics and craftsmanship, and we want that to continue to grow."

The company is known for its distinctive handcrafted designs in tableware, enamelware, furniture and decorative home furnishings.

MacKenzie-Childs employs about 175 people, including about 150 in its administration and manufacturing operations in Aurora. Feldman said there were no plans for adding or laying off employees or moving any operations. He also said the retail stores in Aurora, New York City and Palm Beach would remain open.

MacKenzie-Childs was founded in 1983 by Victoria and Richard MacKenzie-Childs. Rowland bought the company for $6 million in 2001 after it went into bankruptcy with $15.3 million in debts.

Rowland, who attended Wells College in Aurora, created the American Girls Collection of historical dolls, books and accessories, which she sold in 1998 to Mattel Inc. for $700 million.

Rowland sank millions of dollars into buildings and grounds and product designs at MacKenzie-Childs. She opened the New York City and Palm Beach, Fla., stores.

In June 2007, Rowland announced she was seeking a buyer for the company.

Officials in the village of Aurora said it was too soon to know how the sale would affect their small community, a village of about 600 people located on the eastern shore of Cayuga Lake, one of New York's Finger Lakes.

"We have to look at it from a cautious point of view," said Aurora Mayor Thomas Gunderson. "When Pleasant bought (MacKenzie-Childs) from bankruptcy, I think most people really thought she was stepping up to the plate and saving it from being ... disbanded.

"I hope they keep it active and the people retain their jobs," Gunderson said. "I would hate for it to be bought up and then moved offshore. It sounds like all good news, but time will tell."