|Guideposts acquires Ellie Claire, Summerside Press|
|Thursday, 04 November 2010 02:22 PM EDT|
Guideposts has acquired Ellie Claire Gift & Paper Expressions and its subsidiary, Summerside Press.
Effective immediately, the two will become separate divisions under Guideposts. Ellie Claire President Carlton Garborg will serve as senior vice president of Guideposts, running both entities.
The acquisition accomplishes "two key strategic objectives," company officials said. Guideposts, which made the announcement yesterday, will be able to further expand into the retail market with Summerside Press titles, as well as offer Ellie Claire journals and gift products. Secondly, Ellie Claire will benefit from having Guideposts' 2 million subscribers, 6 million book buyers and nearly 9 million online users.
"Ellie Claire has quickly emerged as a leader in the gift market, and Summerside Press is perhaps the fastest-growing publisher in the Christian marketplace," Guideposts President and CEO Dick Hopple said. "The synergies between Guideposts and Ellie Claire are key to a successful future. Our abilities to leverage each other's strengths will help us grow our brand and our reach."
Garborg added: "The collaboration between Guideposts and Ellie Claire will allow us to do more together than we could ever do separately."