FOX Business Headlines 2/24
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The future of Reese Witherspoon’s Hello Sunshine is looking bright.
The media company founded by the Oscar winner has acquired lifestyle brand The Home Edit, it announced on Wednesday.
The home organizing brand, founded by pals Clea Shearer and Joanna Teplin, offers "full-service organizing" in Washington, D.C., Detroit, Los Angeles, Miami, New York City, Nashville, Orange County, Salt Lake City and San Francisco, Variety reported. According to the outlet, it also offers "travel and DIY services" globally.
Celebrated organizers Shearer and Teplin have made their mark as entrepreneurs with The Home Edit. They are the authors of a New York Times bestseller titled "The Home Edit" and they’ve created multiple lines, including an exclusive Walmart collection.
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On Wednesday, it was announced that Reese Witherspoon’s Hello Sunshine media company had acquired The Home Edit. (Photo by Axelle/Bauer-Griffin/FilmMagic / Getty Images)
They are also the stars of Netflix’s Emmy-nominated "Get Organized with the Home Edit," which is produced by Hello Sunshine. It featured stars like Khloe Kardashian, Kane Brown, Eva Longoria and Neil Patrick Harris, among others. A second season will debut this year.
Most recently, Molly Sims opened up her home for the special issue of The Home Edit: Feel-Good Organizing. The magazine will hit newsstands on March 4.
With the purchase, Hello Sunshine intends "to support and accelerate The Home Edit’s rapid growth as a lifestyle brand through additional content and commerce offerings, and creating more ways for audiences to engage with the brand," Variety reported.
During a Thursday appearance on "TODAY," Shearer and Teplin gushed that they didn’t "know what to do with themselves" following the announcement.
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The Home Edit founders Joanna Teplin and Clea Shearer attend the launch of ‘Shine On With Reese’ with Reese Witherspoon at NeueHouse Hollywood on August 6, 2018, in Los Angeles, California. (Photo by Frazer Harrison/Getty Images / Getty Images)
"We are so excited and honored to be with them," said Teplin. "We’ve been partners for a long time. They’re going to help us elevate and continue doing what we’re already doing. We’re going to do more."
In a statement, Witherspoon said she is "thrilled" to welcome The Home Edit team.
"The Home Edit has connected with audiences in so many meaningful ways through their brilliant content and product offerings," said the 45-year-old. "They strive to make everyone’s life easier and more joyful. I am thrilled that Hello Sunshine and Candle Media are going to enable them to expand their business to reach an even larger audience."
Shearer and Teplin said the move was a no-brainer.
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Hello Sunshine was acquired last year by Kevin Mayer and Tom Staggs’ Candle Media for an estimated $900 million. (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
"We’ve been such huge fans of Hello Sunshine for years and had the pleasure of working alongside them on our Netflix series," they said. "They share our vision for what’s possible as we continue to grow The Home Edit, and we’re overjoyed to be able to build the next chapter of this company together."
Reps for Witherspoon and The Home Edit didn’t immediately respond to FOX Business’ request for comment.
The outlet noted that Hello Sunshine’s acquisition of The Home Edit marks its first purchase since it was itself acquired last year by Kevin Mayer and Tom Staggs' Candle Media for an estimated $900 million.
According to its site, Hello Sunshine "puts women at the center of every story we create, celebrate and discover."
"We tell stories we love – from big to small, funny to complex – all shining a light on where women are now and helping them chart a new path forward," the site read.
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