F+W Media has acquired Aspire Media LLC, the parent company of Interweave, an arts & crafts book and magazine publisher, in a deal whose terms were not disclosed.
Private equity firms Frontenac Company, Catalyst Investors, Clay Hall, as well as a couple of executives from the Interweave management team sold the publishing company to F+W. Through the acquisition, F+W Media will own Interweave’s various businesses which includes: more than 30 arts and crafts publications; 350 craft books; 33 websites; 10 online communities; 10 e-commerce stores; as well as various consumer events, and video programming.
F+W CEO David Nussbaum said that Interweave’s strategy is similar to F+W’s approach, which is to focus on “vertical communities.” F+W’s mission, Nussbaum stated, is “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.”
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Novelist Jacquelyn Mitchard has joined F+W Media as the head of their new young adult fiction imprint, Merit Press Books. The imprint will release five titles this year and has thirteen books slated for 2013.