Home decor and fragrance company Blyth Inc. has acquired housewares cataloger Walter Drake for $53 million.
Walter Drake, which has annual sales of approximately $80 million, operates the Walter Drake and The Home Marketplace catalogs.
Greenwich, CT-based Blyth, which markets to consumers under the PartyLite brand, acquired cataloger Miles Kimball in April 2003. Blyth intends to maintain the Kimball and Drake merchandising teams, catalogs and product lines independently in Oshkosh, WI and Colorado Springs, CO respectively. Drake’s fulfillment, warehousing, personalization services, database management and administration operations will be integrated into those of Miles Kimball in Oshkosh and Las Vegas over the next several months.
“Walter Drake’s less seasonal sales pattern complements the highly seasonal business of Miles Kimball, and combining their operations offers significant leverage as we continue to build this new distribution platform for Blyth,” said Robert B. Goergen, Jr, vice president of Blyth, in a statement.
The combined businesses will be led by Mike Muolo, president of Miles Kimball.