While the CMA found no concerns arise in respect of most of the titles acquired, it has identified concerns related to the acquired Needlecraft (Cross Stitcher and Cross Stitch Collection) and Genealogy (Your Family Tree) brands.
While Immediate is disappointed the CMA has not been able to clear all aspects of the acquisition, the company now has a short period to offer remedies to address the CMA’s outstanding concerns. Immediate is hopeful of being able to resolve these concerns without significant further delay.
Immediate CEO Tom Bureau says: “I am pleased that the CMA has accepted no issues arise with the majority of our acquisition, including a world-renowned Cycling portfolio reaching over 4.7 million cyclists internationally every month, and market leading Craft brands from Mollie Makes to Simply Knitting and Love Patchwork & Quilting.
“Your Family Tree, Cross Stitcher and Cross Stitch Collection are great brands, created by talented individuals. But we accept the CMA has identified concerns at this stage and will now consider what options are available to us to remedy these concerns.”
