Borders(R) Gets 'All Wound Up'
ANN ARBOR, Mich., April 7 /PRNewswire/ -- Borders Group, Inc. (NYSE: BGP) today announced it will "crank up" its mall-based retail business with the acquisition of All Wound Up, a high-growth seasonal retailer of interactive toys and novelty merchandise with 90 locations. All Wound Up will be operated through Borders Group, Inc.'s Waldenbooks unit, which already runs a very successful mall business with approximately 900 book stores and 600 seasonal kiosks operating in all 50 states, as well as in Britain and Singapore. Founded in 1994, All Wound Up has experienced rapid growth from two stores to seven year-round locations, and an additional 83 seasonal kiosk stores, which provide a fun and entertaining shopping experience offering a unique assortment of interactive toys and novelty items for all ages. Through Waldenbooks, Borders Group, Inc. has dramatically expanded its kiosk business and the acquisition of All Wound Up is an extension of that retail strategy. According to Kathy Winkelhaus, president of Waldenbooks, the acquisition brings together two companies who can benefit from shared experience and similar philosophies. "Waldenbooks and All Wound Up are skilled mall retailers with successful track records and aggressive growth plans," she said. "Clearly Borders Group brings additional infrastructure to help rapidly expand All Wound Up, while All Wound Up will enhance our business with fresh new techniques in interactive customer service and marketing." "We are very excited about this acquisition and the growth we will achieve through the synergies between Borders Group and All Wound Up. We also look forward to the additional opportunities that this acquisition brings for our employees as these two companies continue their aggressive growth strategies," stated Stuart Fishman, general manager of All Wound Up. All Wound Up will retain its retail brand name and will continue to expertly manage the buying and merchandising of toys. About Borders Group, Inc. Borders Group, Inc., is a leading global retailer of books, music, video and other information and entertainment items with stores in the United States, United Kingdom, Australia and Singapore. Headquartered in Ann Arbor, Mich., Borders Group, Inc., is the parent company of Borders, Inc., which operates over 250 Borders Books and Music stores in the United States, offering what is widely regarded as the broadest selection of books and multi- media titles available to consumers anywhere. It is also the parent of Borders.com, an electronic commerce site that has access to over 650,000 titles and over 10 million books, music and video items in stock and ready for immediate shipping from a state-of-the-art fulfillment and distribution center. With cafe operations in nearly all of its stores, Borders, Inc., is one of the nation's largest specialty coffee retailers. Through Borders (UK) Limited, Borders Group, Inc., also operates 26 Books etc. and three Borders stores in the U.K. In addition, Borders Group, Inc., owns Walden Book Company, Inc., which has approximately 900 Waldenbooks stores in malls, shopping centers and airports across the country. Borders Group, Inc., trades on the New York Stock Exchange under the symbol "BGP." To learn more about our company, come see us at http://www.bordersgroupinc.com. For information on Borders stores, visit http://www.bordersstores.com. For the ultimate online book, music and video shopping experience, explore http://www.borders.com.RELATED LINKS
SOURCE Borders Group, Inc.