Thane to Acquire Household Products Direct Marketer Krane
Direct response marketer Thane International, La Quinta, CA, announced yesterday that it has entered into an agreement to acquire privately held Krane Holdings Inc., Boca Raton, FL.The stock-for-stock transaction is expected to close this month. Thane is a multichannel direct marketer of consumer products in the fitness, health and beauty and housewares product categories.
Thane's distribution channels include direct response TV, home shopping channels, catalogs, retail, print advertising, credit card inserts and the Internet. Krane is a direct marketing company focusing on home-maintenance products to consumers in rural and smaller communities. Under terms of the acquisition, Krane's stockholders will receive 2.6 million shares of Thane's common stock. Krane will operate as a wholly owned subsidiary of Thane.
In November, Thane announced its intention to acquire Reliant Interactive Media Corp., Tampa, FL. It expects to close on the Reliant transaction, pending approval of the Reliant's shareholders, in April. In addition, Thane has applied for its stock to be listed on the Nasdaq. According to Thane, the combination of these three companies will create one company with revenues in excess of $300 million for the nine months ended Dec. 31.
