Ted Deikel, who has twice owned and sold Fingerhut Cos., and business partner Tom Petters, a Twin Cities' wholesaler, say they have signed a definitive agreement to buy key assets of Fingerhut from Federated.
The deal calls for the Deikel and Petters group to buy, among other things, Fingerhut's 1.1-million-sf St. Cloud distribution center; the company's headquarters in Minnetonka, MN; its Plymouth, MN, data center; a distribution center in Piney Flats, TN; Fingerhut's name, Web site and existing inventory.
The two men say they plan to rebuild Fingerhut.
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