F+W Acquires Interweave to Bolster Large Craft Publishing Division
In a move that fits neatly into F+W Media’s corporate strategy of creating content communities in vertical markets, the company has announced the acquisition today of Aspire Media, parent to Interweave, one of the largest craft-focused media companies in the U.S., from private-equity firms Frontenac Company, Catalyst Investors, and the company’s management team.
F+W Media is now the largest crafts publisher in the U.S., according to the company’s chairman and CEO David Nussbaum.
Interweave publishes fifteen magazines and 33 websites and runs 10 e-commerce stores as well as 11 consumer-facing trade shows. It also has a catalog of 350 craft books. F+W’s crafts community consists of book publishers North Light Books, Krause Books, and Memory Makers Books as well as several trade shows and online media and e-commerce sites. Digital Book World is owned and operated by F+W Media.
The stated strategy of New York-based F+W Media is to create print, online and face-to-face media properties around communities of interest. The properties include books, magazines, e-books, media websites and e-commerce sites.
“The Interweave strategy mirrors the strategy set in place for each of our vertical communities. To provide an expertly curated portfolio of quality content, products and services, marketed and sold direct to our comprehensive database of core enthusiasts, through our robust e-commerce stores,” said Nussbaum in a statement.
This is not the company’s first crafts acquisition this year. In February, F+W closed the acquisition of The Martha Pullen Company, an e-commerce provider, event producer and content company in the sewing vertical.
As part of the acquisition, Aspire CEO Clay Hall and chief financial officer Troy Wells will be leaving the company. Terms of the deal were not disclosed.