Blyth to Acquire Giftware Company Miles Kimball

Blyth, Inc., Greenwich, CT, announced it intends to acquire Miles Kimball Company, an Oshkosh, WI-based direct marketer of giftware, home decor and household convenience items, premium photo albums, frames and holiday cards. The deal will close in the next several weeks. Miles Kimball Company operates three divisions: Miles Kimball Gifts, Exposures and Holiday Cards.

Blyth will acquire a 100% interest in Miles Kimball Company for total consideration of approximately $65 million in an all-cash transaction. The acquisition is expected to be accretive to Blyth’s sales and earnings in fiscal year 2004. Miles Kimball Company’s sales were approximately $120 million in fiscal year ended Dec. 31, 2002.

Commenting on the acquisition, Robert B. Goergen, Blyth’s chairman of the board and chief executive officer, said, “The growth of our business, both internally and via strategic acquisitions such as Miles Kimball Company, positions Blyth as a significant global competitor in Home Expressions. By leading the way in fragrance technologies and style trends and offering a variety of trusted brands and products that satisfy multiple needs, Blyth helps people express themselves in their homes.”