[News] Two Peas Acquired By Leisure Arts

According to a post made today on the Two Peas In A Bucket message board by co-founder Jeffrey White, the online store Two Peas In A Bucket and its community have been purchased from Canadian family media company Kaboose by Leisure Arts.

Kaboose had purchased Two Peas in mid-2006 from its founders Jeffrey White and Kristina Nicolai-White for a reported $600,000. The founders have remained in charge of Two Peas during its time under Kaboose's ownership.

Crafts publisher Leisure Arts has until now not really made a splash in the scrapbooking market. It will be interesting to see what their plans are to leverage the Two Peas audience from a marketing standpoint. It is also nice to see Two Peas back under the umbrella of a company with a better understanding of the crafts industry than Kaboose seemed to exhibit during their tenure.

To celebrate the new partnership (and probably to get some inventory off the books), Two Peas is having a huge sale.

Note: Although an anonymous commenter to this article puts the original purchase price by Kaboose at $1.2 million, public statements at the time of the purchase described the sale price as "US$600,000 in cash with additional consideration to be paid to the owners of Two Peas on an earn-out basis". It is unknown except to company insiders what those additional amounts were, what period of time those additional monies were scheduled for and whether they were guaranteed in case of a resale of the site.