NEW YORK, Aug 02, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Martha Stewart Living
Omnimedia, Inc. (NYSE: MSO) has invested $10 million cash in an entity that
acquired Wilton Industries, Inc. and Dimensions Holdings, LLC, announced MSLO
President and CEO Susan Lyne. The deal broadens the media and merchandising
company's footprint in the crafts market, paving the way for additional
licensed Martha Stewart branded crafts products, including food crafts, party
favors and weddings.
MSLO co-invested with GTCR Golder Rauner, LLC, one of the nation's leading
private equity firms, in Wilton Products, Inc., an entity that already owns EK
Success and just acquired two additional crafts companies, Wilton Industries,
Inc. and Dimensions Holdings, LLC. The newly combined business has been
renamed Wilton Products, Inc., and will be headquartered in Woodridge,
MSLO had a preexisting relationship with EK Success and GTCR Golder
Rauner. With the new investment, MSLO restructured its existing ownership
stake on more favorable terms.
EK Success manufactures, markets and sells the new Martha Stewart Crafts
line of paper-based crafting and storage products. The line launched in May
exclusively in more than 900 Michaels arts and crafts stores in the United
States and Canada and on marthastewartcrafts.com/crafts
(http://www.marthastewart.com/crafts). It will be rolling out to independent
retailers in the fall.
"I'm enormously proud of our Martha Stewart Crafts line and delighted with
the response to it. I'm looking forward to working with Wilton, which
represents a tremendous number of opportunities in baking, cake decorating and
crafts," said MSLO Founder Martha Stewart.
"This is a great opportunity for us to put our balance sheet to work,"
stated Ms. Lyne. "We are excited to roll out these additional crafts lines
and, by restructuring our existing ownership interest in this larger crafts
entity, we are able to participate in a more meaningful way in the value
creation associated with our brand."
Robin Marino, President of Merchandising for MSLO, added: "Expansion of
our crafts line enables us to serve millions of customers inspired by Martha
Stewart to create and celebrate special occasions beautifully. We look forward
to working with Wilton to expand our distribution and answer the needs of our
passionate crafting constituency."
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) is a diversified media
and merchandising company, inspiring and engaging consumers with unique
content and distinctive products. The Publishing segment encompasses five
magazines, including the company's flagship publication, Martha Stewart
Living, periodic special issues and books. The marthastewart.com website
provides consumers with instant access to MSLO's multimedia library, search
and find capabilities, and more. The Broadcasting division produces the
Emmy-winning daily, national syndicated program, "The Martha Stewart Show" and
Martha Stewart Living Radio, channel 112 on SIRIUS Satellite Radio. In
addition to its media properties, MSLO offers beautiful, practical and
superior quality Martha Stewart products through licensing agreements with
carefully selected companies. For additional information, visit
About Wilton Industries
Wilton Industries, based in Woodridge, Illinois, has successfully united
three distinctive consumer products companies whose strategic focus is product
innovation and quality. The three divisions are Wilton Enterprises, Copco, and
The Weston Gallery. The company's best-known division and preferred brand for
over 50 years, Wilton Enterprises, sells cake baking and decorating items in
more than 100 countries. Wilton's Copco division is the leading manufacturer
of teakettles, and The Weston Gallery unit is a full-line picture frame
supplier to the retail industry. For more information go to www.wilton.com.
Dimensions is a leading designer, producer, and distributor of premium
quality craft and hobby products for adults and children. Based in Reading,
Pennsylvania, the company participates in the large, fragmented, steady-growth
craft and hobby industry. Dimensions' offering includes needlecraft,
paint-by-number, kid's activity beading, rubber stamping, scrapbooking, and
card making products, most of which are sold in kits or marketed in
About EK Success
EK Success is a creative consumer products company with the leading market
position in the fast-growing $3.0 billion scrapbooking segment of the U.S.
craft industry. EK Success designs and markets some of the craft industry's
most respected brands of stickers, multi-dimensional embellishments, punches
and writing utensils for use in scrapbooking and related paper crafts, such as
card making and invitation creation. These include ZIG(R) Memory System(R),
Sticko(R), Paper Shapers(R), Jolee's Boutique(R), HERMA(R) and Cutter Bee(R).
The Company has a demonstrated history of consistent, successful product
innovation, having won over 40 design and reader's choice awards since 2002.
For more information go to www.eksuccess.com.
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity
investment firm and long-term strategic partner for outstanding management
teams. The Chicago-based firm pioneered the investment strategy of identifying
and partnering with exceptional executives to acquire and build companies
through a combination of acquisitions and strong internal growth. GTCR
currently manages more than $8 billion of equity capital invested in a wide
range of companies and industries. More information about GTCR can be found at
SOURCE Martha Stewart Living Omnimedia, Inc.
Diana Pearson, +1-212-827-8915, firstname.lastname@example.org, or Elizabeth Estroff,
+1-212-827-8281, Eestroff@marthastewart.com, both of Martha Stewart Living Omnimedia,