John James, founder of Hayseed Ventures, bought one of his original business creations Scrub Shopper for "a seven-figure amount."
Scrub Shopper, which sells medical apparel, was under Acumen Brands, the online retail company James founded in 2009. James stepped down as Acumen CEO and opened Hayseed Ventures in the Old Post Office in downtown Fayetteville in 2015.
Hayseed partners with start-up companies to help them become successful businesses. James said buying Scrub Shopper gives Hayseed a profitable existing company as a building block for Hayseed's growth.
"It was the basis of Acumen, and now it will be the basis of something Acumen-like. Not unlike an Acumen 2.0," James said. "It's dream scenario."
James said a dedicated team made up of Hayseed employees or third-party contractors will work to revitalize Scrub Shopper. He said a new website for the brand should be up in weeks since the current website hadn’t been updated in five or six years.
James is still a shareholder and a member of the board of directors at Acumen, but he said Scrub Shopper's low profile got overlooked at Acumen, which is best known for its Country Outfitter store.
"It was always the stepchild at Acumen," James said. "It hasn’t got any attention in the last three years. It was too small to garner any attention."
James said Scrub Shopper was still profitable, which is why he paid at least $1 million for it. He declined to give the exact sales price.
He said he will serve as CEO of Scrub Shopper during the initial reorganization. Like all Hayseed projects, James has big goals for Scrub Shopper.
"We want to be the largest reselling of scrubs in the world," James said. "That's not a joke. That's literally our plan."