• October 24, 2007

Meredith Corp. has signed a deal with Wal-Mart for the design, marketing and retailing of a wide range of home products based on the Better Homes and Gardens brand. This new line of home products is expected to be available exclusively in Wal-Mart stores by the fall of 2008, the company said in a release.

Merchandise to be developed includes items in popular home categories such as bedding and throws; bath accessories; dinnerware and kitchen textiles; and decorative pillows.

Better Homes and Gardens' creative staff will take an active role in product design. "These products will reflect Better Homes and Gardens' high standards and timeless style. They will delight the Wal-Mart shopper with stylish colors, patterns and designs that have broad appeal," said Meredith.

"This represents the largest extension of products bearing the Better Homes and Gardens brand in its 85-year history," said Meredith President and CEO Stephen M. Lacy in a prepared statement. "We're excited to be partnering with Wal-Mart in bringing the Better Homes and Gardens style into the homes of millions of American shoppers."

Financial terms were not disclosed, and the transaction will not impact Meredith's financial results until fiscal 2009. The companies currently have a licensing agreement for a line of garden and outdoor products that will continue.

--Nina M. Lentini