In October of 2005, FreshTracks Capital invested in the NASDAQ Small Cap company Vermont Teddy Bear of Shelburne, VT as part of VTB’s “going private” transaction. FreshTracks joined majority investor The Mustang Group LLC, a Boston-based private equity fund, as well as many members of VTB’s management team and several Vermont private investors to complete the transaction.

VTB has offered classic handmade bears from Vermont for over 20 years. In addition to their Bear-Grams, VTB also offers a variety of direct-to-consumer gift options for their customers including PajamaGrams, TastyGrams, Gift Bags and floral gifts from Calyx and Corolla.

Cairn Cross, Managing Director of FreshTracks, joined the board of directors of the newly private company upon completion of the transaction.

Visit Vermont Teddy Bear

Featured Press


  • vtb-35th-anniversary-bear
    Vermont Teddy Bear Celebrates 35 Years!

    Vermont Teddy Bear celebrated its 35th anniversary in June with food, music, activities, and factory tours.

  • VTB 12.2015
    Vermont Teddy Bear: Where Cuddly is Made

    Tour the Bloomberg Business photo gallery of “Inside the Vermont Teddy Bear Factory” to see the many details that go into creating a timeless treasure.

  • k2-_40967a94-dd9f-4c03-baaa-9231f80b7475.v1
    Vermont Teddy Bear PajamaJeans Going Global

    They were originally made for Teddy Bear’s Pajama-Gram mail-order company. But PajamaJeans sold so well during the 2009 holiday season that the company started looking for new ways to market them, both in stores and on TV.

  • teddybearlogo
    Vermont Teddy Bear Goes Private

    The Vermont Teddy Bear Co., which sells stuffed bears,
    flowers and food over the Internet, is going private. In a deal valued at
    $50 million, an investment group lead by Mustang Group LLC of Boston
    will own the company.

  • pajamajeans_1
    PajamaJeans in NY Times

    Direct response marketing company, TV Goods, recently purchased AsSeenOnTV.com, which promotes PajamaJeans for Hampton Direct.