British direct marketer First Resources Ltd. said yesterday that it acquired novelty cataloger Renwood Ltd. for an undisclosed cash sum.
The news follows First Resources' June acquisition of premium kitchenware cataloger Cucina Direct. That deal brought the number of catalogs under 9-year-old First Resources to 12.
Renwoods is a mass-market catalog specializing in novelties and problem-solving products. Founding shareholders Marie Flaherty, Clare Harper and Eugene Lavin built the business from the database assets of the catalog Brookvine, which they bought out of receivership in 2003.
The Renwoods catalog fills a gap in First Resources' portfolio, chairman Nigel Swabey said in a statement.
“The great advantage to us is the size of the Renwoods/Brookvine customer database,” he said. “There are over 580,000 buyers, and although over 30 percent are already customers of one of our other brands, the Renwoods list still represents a significant addition to our group database.”
Swabey said he thinks Renwoods' sales could surpass $17.6 million within three years.
The next issue of Renwoods will be published in late September, mailing to 1 million names.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters