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Ollie's Bargain Outlet Holdings, Inc., commonly referred to as Ollie's Bargain Outlet is an American chain of discount closeout retailers. It was founded in Mechanicsburg, Pennsylvania , in 1982 by Morton Bernstein and Mark L. Butler with backing from Harry Coverman and Oliver E. "Ollie" Rosenberg; the latter of whom is the namesake of the company.
In 1994, Home Interiors and Gifts was sold to the investment firm of Hicks, Muse, Tate & Furst in a $1 billion leveraged buyout. [ 1 ] [ 8 ] The company sold more than $850 million annually in silk and polyester flower arrangements, porcelain puppies and other decorative household items at home parties .
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In 2021, Mayer and Staggs founded and launched Candle Media, a Blackstone-backed media company, and they are co-CEOs of the company. [26] The company has made several notable acquisitions, including Hello Sunshine, Moonbug Entertainment, a 10% stake in Westbrook, and ATTN:. [26] Candle Media and TikTok entered into a strategic partnership in ...