F+W Signs Definitive Agreement to Acquire ‘The Sewing Studio’ and LoveSewing.com
NEW YORK – April 17, 2013 – F+W Media, Inc. announced the Company has signed a definitive agreement to acquire a sewing vertical with retail locations in New York City and Toronto and a thriving online education portal. The Sewing Studio and www.LoveSewing.com will join the F+W portfolio effective May 1st further solidifying the Company’s role as the leader in craft and sewing media and education. Terms of the deal will not be disclosed.
David Nussbaum, Chairman & CEO, spoke about the acquisition, “In our continued mission to serve our communities, we pay particular attention to how our enthusiasts get their information, get inspired, and learn. Education – both online and live events – is the fastest-growing segment of our Company. Whether we create our own courses, work with a partner, or in the case of The Sewing Studio acquire a business already doing excellent work in the space, we will continue to strategically build our education portfolio to meet our community needs.”
In the craft and sewing space, the Company completed several large acquisitions in 2012 including Interweave Press and The Martha Pullen Company. On April 11th the Company announced it had entered a multi-faceted agreement with Hubert Burda Media directing the BurdaStyle brand and popular burdastyle.com website for distribution in the USA and Canada.
The Sewing Studio founder Denise Wild is a sewing expert and former magazine editor. Wild and her staff will join the F+W Media team, and Wild will be named Content Director for the BurdaStyle USA business. BurdaStyle USA will be developed as an integrated business model, encompassing the online community of more than 800,000 members, a highly-curated ecommerce store, in-person and online education services, video content, events, a magazine, books and e-books.
“I’m so honored to be at the helm of this exciting endeavor. I can’t wait to partner my background in media with my passion for sewing and expertise in sewing education,” said Wild. “This new venture will surely bring great things to the sewing community, to those who are brand new to sewing, and to everyone at LoveSewing and The Sewing Studio.”