February 16, 2001
Thane International To Buy 2 Firms
Thane International, La Quinta, CA, signed a letter of intent to acquire two complementary businesses, Krane Products, Boca Raton, FL, and Fairfield Mint, Norwalk, CT. Thane is a marketing company that specializes in fitness, health and beauty products sold through direct response television. Krane is a direct marketer of housewares sold primarily through telemarketing. Fairfield Mint is a direct marketer of collectibles sold primarily through print advertising and catalogs.
Thane CEO Bill Hay said the acquisitions "fit extremely well with our stated strategy of becoming the leading diversified direct marketing company in the industry." The acquisitions are expected to be completed in 90 days. Terms of the deal were not disclosed.