Sandow Media acquires Casual Living, Furniture Today and sister publications
-- Casual Living, 3/18/2010 10:33:00 AM
Casual Living, Furniture/Today and several sister publications have been acquired by Sandow Media, a Florida-based company that also has several multichannel, vertically integrated luxury consumer brands online and in print.
Sandow acquired Casual Living along with Interior Design, Gifts & Decorative Accessories, Home Textiles Today, Home Accents Today, Furniture/Today, Kids Today and Playthings from Reed Business Information. All the acquired publications are business-to-business print and online brands serving the commercial and residential design and home furnishings and accessories industries.
Sandow Media will hire more than 100 employees with this transaction and substantially expand its current New York City operations. Reed Business Information's Greensboro, N.C., facility will also become part of Sandow Media. A purchase price wasn't disclosed.
"This is a rare opportunity for Sandow Media to acquire a group of industry-leading magazines and a very strong management team," said Adam I. Sandow, chairman and CEO of Sandow Media. "These brands each have robust print, digital, event and research businesses and hold the category leader position in each of their respective markets."
Founded by Sandow in 2002, Sandow Media's flagship brands include the beauty publication NewBeauty; Worth, a business and finance magazine for the affluent; Watch Journal; and Luxe Interiors + Design, the nation's largest network of luxury home and design magazines. The company has more than 285 employees nationwide and produces more than 200 publications annually. Veronis Suhler Stevenson is an investor in Sandow Media.
"We have built Sandow Media on a foundation of quality and innovation, and while these terms are sometimes overused, they are deeply rooted within the DNA of our company and each of our employees," said Sandow. "B-to-B media serves an incredibly important function to educate, inform and provoke its readers, and we take that responsibility seriously. It is our job to bring new innovation to these platforms, invest in the digital future and provide the management team with the ability to grow in new and exciting directions."
"This deal couldn't have come at a more perfect time as our nation's housing market begins to show signs of recovery," said Kevin Castellani, vice president and publishing director. "The furnishings industry is a $72 billion industry that is expected to grow almost four percent in 2010."
Furniture/Today Editor in Chief Ray Allegrezza added, "Since 1976, Furniture Today has earned the reputation as the most trusted industry source for news, insight and research. With the support of Sandow Media, and especially a partnership with its strong consumer presence in the home furnishings market with Luxe, we are incredibly optimistic about our future opportunities for growth and editorial innovation."
"We are more than pleased that our valuable brands and our talented and dedicated employees have found a new home with Sandow Media, a highly creative publishing company that has a tremendous track record under the leadership of Adam I. Sandow," said Reed Business Information-U.S. CEO John Poulin. "We wish them every possible success."
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