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Valentinemommy2002
Junior Member
Joined: Dec 19, 2006
Posts: 50
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Sat Aug 04, 2007 5:16 pm |
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Saw this on a group that I belong to locally....(I'm near Wilton) Thought it was interesting.
With new ownership, the tent sale could be dropped. Or it could be expanded to include products from other companies this fund owns. Or the fund could sell off one of the other divisions meaning fewer products could be available. Interesting tie in to Martha Stewart here, so we might see some of her products at next year's sale. Should be interesting to see how this all pans out because they have almost a year to make any changes.
Equity firm acquires Wilton Industries
August 2, 2007
sun staff
A Chicago-based equity firm is joining forces with a couple of international banking powerhouses and Martha Stewart to acquire Woodridge-based Wilton Industries, the world's largest maker of bakeware and cake decorating materials.
Wilton's annual summer tent sale draws throngs of thrift-seekers to its facility along 75th Street at the North-South Tollway. Wilton was founded in 1929.
The acquisition was announced Wednesday by GTCR Golder Rauner, LLC, one of the nation's leading private equity firms. GTCR also said it acquired Dimensions Holdings LLC, a hobby products maker based in Reading, Pa. Wilton and Dimensions will be combined with EK Success, a scrapbook-products manufacturer acquired last year, to form Wilton Products Inc., which will be valued at $1.15 billion and headed by existing Wilton President and Chief Operating Officer Steven Fraser.
"On behalf of the management team, we are very excited to partner with GTCR to build the new Wilton Products into the largest and most diversified player in the crafts industry," Fraser said in a statement. "By leveraging Wilton's legendary brand status and the direct synergies between EK Success and Dimensions, our new company will be poised for unprecedented growth opportunities. "
The buyouts were financed with a $950 million loan underwritten by UBS Investment Bank and Deutsche Bank Securities and about $200 million of GTCR's own money, Crain's Chicago Business reported.
Martha Stewart Living Omnimedia put in about $10 million and extended an exclusive licensing deal for EK Success' crafts to Wilton's products, Crain's said.
Wilton Industries consists of three divisions: Wilton Enterprises, Copco, and The Weston Gallery. The company's best-known division and preferred brand for more than 50 years, Wilton Enterprises, sells cake baking and decorating items in more than 100 countries. Wilton's Copco division is the leading manufacturer of teakettles, and The Weston Gallery unit is a full-line picture frame supplier to the retail industry. |
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Doug
Forum SuperStar!
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Joined: Jun 28, 2005
Posts: 7907
Location: NC
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Sat Aug 04, 2007 5:57 pm |
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betting that since it will be the same guy heading up the business -- not all that much will change....
except.....
then figuring out ways to incorporate the stuff from those other companies (run..it's Martha! --- sorry not much respect for here) -- into their cakes! |
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MavericksMommy
Frequent Member
Joined: Jun 05, 2006
Posts: 338
Location: Delaware
Birthday: Dec 24
Gallery Supporter Member
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Sat Aug 04, 2007 6:17 pm |
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| Doug wrote: | betting that since it will be the same guy heading up the business -- not all that much will change....
except.....
then figuring out ways to incorporate the stuff from those other companies (run..it's Martha! --- sorry not much respect for here) -- into their cakes! |
I guess there's no hoping that they will start making better quality stuff!  For a second there I thought just maybe.... |
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Doug
Forum SuperStar!
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Joined: Jun 28, 2005
Posts: 7907
Location: NC
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Sat Aug 04, 2007 7:03 pm |
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think of it this way....
if wilton sold cars -- it by the low end of the market -- the so called "entry level" -- you know those cars you can get for around $12,000.
there not even the mid-range and oh, definitely not the top end or luxury market.
they're very good at what they do -- get people introduced to cake decorating (just look at CC!) -- some will "take" and others will drop away.
and some will become very aspirational -- gotta have the rolls royce!!--be the next duff/collete/bronwen....
so, rather than bashing all the time -- after all does it do any good to bash the neon (car) for example for not being a mercedes??? --- maybe we should appreciate them for what they are -- a good place to start and then as money and talent allow a place to move from to bigger and better things ---
just like so many of us did from that first beater of a car we had in HS to what we have/dream of having now. |
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FrostinGal
Frequent Member
Joined: Jul 07, 2007
Posts: 498
Location: San Diego
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Sat Aug 04, 2007 8:09 pm |
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With Martha in the mix, I wouldn't mind seeing some of the specialty supplies from her Weddings magazine show up for mass market, like she has done with her craft/party collection that they have at Michael's. |
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Tarabell
Junior Member
Joined: Nov 30, 2006
Posts: 70
Location: Grande Prairie, Alberta
Birthday: Apr 01
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Sat Aug 04, 2007 10:34 pm |
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All Martha does is make things more expensive. Her exclusive line of stuff Michaels offers is a joke and so over priced! I am not a Wilton lover, but like Doug said, I give them credit for giving me my start.
Tara |
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JanH
Forum SuperStar!
Joined: Mar 09, 2006
Posts: 9685
Location: Hebron, IN
Birthday: Feb 14
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Sun Aug 05, 2007 11:46 am |
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LauraS
Frequent Member
Joined: Jun 04, 2007
Posts: 211
Location: Gales Ferry, CT
Birthday: Sep 20
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Sun Aug 05, 2007 2:45 pm |
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is anyone going to the tent sale, being in CT, not possible, has anyone been how is it. |
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