DES MOINES, Iowa, March 2 /PRNewswire-FirstCall/ -- Meredith Corporation (NYSE: MDP), one of America's leading media and marketing companies, has reached a multi-year agreement with Walmart Canada Corp. to launch a line of home and garden products based on the Better Homes and Gardens brand. Financial terms were not disclosed, and the transaction will not impact Meredith's financial results this fiscal year.
Walmart Canada will work with the Better Homes and Gardens creative staff to design products that appeal to the Canadian consumer and reflect the brand's high standards and timeless style. The program will feature items, in an updated traditional style, eventually including bedding and bath accessories, dinnerware and kitchen textiles. The merchandise is expected to be available exclusively in more than 200 Walmart Canada stores by fall 2009.
"We are pleased to extend the Better Homes and Gardens style into the homes of millions of Canadian shoppers," said Steve Lacy, Meredith President and CEO. "We're confident the Canadian consumer will be very pleased with the quality and style of these products."
Today's announcement follows the successful fall 2008 launch of an expanded line of Better Homes and Gardens licensed products in Walmart stores across the United States. The Canadian expansion marks the first time Better Homes and Gardens licensed products will be sold outside of the United States.
About Meredith Corporation
Meredith Corporation (http://www.meredith.com) is the leading media and marketing company serving American women. Meredith combines well-known national brands -- including Better Homes and Gardens and Parents -- with local television brands in fast growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development. Meredith then uses multiple distribution platforms -- including print, television, online, mobile and video -- to give consumers content they desire and to deliver the messages of its marketing partners. Additionally, Meredith uses its many assets to create powerful custom marketing solutions for many of the nation's top brands and companies. In the last two years, Meredith has significantly added to its capabilities in this area through the acquisition of cutting-edge companies in areas such as online, word-of-mouth and database marketing.
CONTACT:
Art Slusark
(515) 284-3404
art.slusark@meredith.com
Patrick Taylor
(212) 551-6984
patrick.taylor@meredith.com
.jpg)
.jpg)