CINCINNATI—F&W Publications, Inc., a leading special interest book and magazine publisher, announced an agreement to acquire Krause Publications of Iola, Wis.
Once the sale is completed, the companies combined will generate approximately $200 million in annual revenue.
The two companies will operate independently of one another, with no redundancies, or change in product offerings. When put together, the companies specialize in a variety of enthusiast categories including writing, fine art, genealogy, crafts, antiques and collectibles, coins and stamps, and outdoors.
“Krause Publications and F&W share a common business model,” said Stephen J. Kent, president and CEO. “We provide value-added content across multiple platforms for the enthusiast market. The acquisition is a natural fit for both companies and will allow F&W to continue to grow the business both organically and through further acquisitions.”
With the acquisition, Roger Case, president of Krause, assumes an expanded role as president of the Magazine Division for all F&W Publications, and joins the F&W executive committee. William Budge Wallis, current president of the F&W Book Division, will assume responsibility for all Krause book imprints.
“By combining our talent and long publishing traditions, the company can remain committed to the same quality product lines, while expanding to meet the needs of our audience,” said Case.
“We have long respected the books and magazines from Krause,” said Wallis, “and are looking forward to growing the business together.”
F & W Publications, a special interest publisher of books and magazines, is headquartered in Cincinnati, Ohio, with additional offices in New York, Denver, and Devon, England. F&W Publications is home to many industry-leading magazines, including Writer’s Digest, HOW and Memory Makers, six book imprints, seven book clubs, a burgeoning internet business, and a variety of educational products. In early 2002, F&W was purchased by Providence Equity Partners. William F. Reilly, former chairman of MacMillan and Primedia, was appointed chairman for F&W Publications concurrent with the acquisition.
Founded in 1952, Krause Publications is now the world’s largest leisure-time publisher with 46 periodicals, 15 hobby shows and 750 reference and how-to books in print. The company, based in Iola, Wis., grew internally and through a series of acquisitions, including DBI Books (1996), the non-automotive titles of Chilton Book Co. (1997) and Landmark Specialty Publications (1999). The company’s 450 employees are committed to providing the quality products and services that support the needs and interests of their customers.