GCTR to Finance EK Success' Acquisition of Dimensions & Wilton

Reported recently in the Memorytrends Magazine e-newsletter:

TheDeal.com reports the following: GTCR Golder Rauner LLC is sponsoring a $1 billion recapitalization of its scrapbook company, EK Success Ltd., to finance the add-on acquisitions for two other craft companies, Wilton Industries Inc. and Dimensions Co., according to a source.

Scrapbook company EK Success is buying Wilton for more than $700 million, the source said. Woodridge, Ill.-based Wilton generates about $300 million in revenue selling spatulas, icing and sprinkles under the Wilton brand. It also sells teakettles and house wares under the Copco brand, private label picture frames under the Weston Gallery brand, and the scrapbook business Just Jinger. Additionally, EK Success paid more than $100 million for Reading, Pa., arts and crafts company Dimensions. The combined company will take the Wilton Industries name.

GTCR bought EK Success in December 2005 for about $200 million. The company has a joint venture with Martha Stewart Living Omnimedia Inc. producing paper products under the domestic diva's name. Stewart plans to extend the license to Wilton Industries.

Editor's Note: Dimensions Crafts currently owns the Dimensions brand of products, as well as those under the Inkadinkado and K&Company brands. There has been no official confirmation of the inclusion or exclusion of these brands in the new Wilton Industries.