F&W Publications Acquires Krause Publications

Posted on July 5, 2002

F&W Publications, Inc., a Cincinnati-based special interest book and magazine publisher, announced an agreement to acquire Krause Publications of Iola, Wisconsin. Founded in 1952, Krause is a leisure-time publisher with 46 periodicals, 15 hobby shows and 750 reference and how-to books in print. Krause Publications also runs collect.com, a website serving the online collecting community with articles, forums, dealer directories, and marketplace opportunities. Once the sale is completed, the companies combined will generate approximately $200 million in annual revenue.

A new acquisition was expected for F&W after F&W was purchased by Providence Equity Partners from Citicorp Venture Capital Ltd. earlier this year. William F. Reilly, former chairman of MacMillan and Primedia, was appointed chairman for F&W Publications concurrent with the acquisition. William Reilly recently told the New York Post that he plans to build F&W into a $500 million company. F&W CEO Stephen J. Kent mentioned the possibility of the company making additional acquisitions.

"Krause Publications and F&W share a common business model," said Stephen J. Kent. "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.