Roy Reiman

Thirty-eight years ago, western Iowa native Roy Reiman started a publishing business in the basement of his Wisconsin home.Relying on a highly unusual formula -- accepting no advertising, relying almost exclusively on subscription fees and soliciting many of its articles from readers -- he built Reiman Publications into a highly successful publisher of rural lifestyle, cooking and nostalgia magazines.

Last week, his company was sold to Reader's Digest Association Inc. for $760 million in cash.The hefty purchase price makes the acquisition the biggest the magazine business has seen since 1998.

Reiman, who grew up on a farm near Auburn, Iowa, founded his publishing company in 1964 in Hales Corners, Wisc.Remain Publications, now headquartered in the Milwaukee suburb of Glendale, boasts seven magazines ranked among the top 100 in national circulation.One -- Taste of Home -- is the best-selling food magazine in the world, and the sixth-largest in the U.S., surpassing such familiar titles as Time, Sports Illustrated and Woman's Day.

Combined circulation for Reiman's 12 major bimonthly magazines is more than 15 million.The company celebrates traditional American life with publications are homespun and inviting.Enthusiastic readers submit stories, recipes and photos for publication in the magazines.
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Reiman Publications is principally owned by Madison Dearborn Partners Inc., a Chicago investment firm, and senior management of Reiman.The Readers Digest deal, which was announced March 21 and had been rumored for weeks, will give Reader's Digest access to a huge database of 16 million readers and $300 million in annual revenues.

Roy Reiman said his company and Reader's Digest "have a great deal in common."

"We both have a strong focus on home and family, and we have an unusually close relationship with our customers," Reiman said in a statement."Over time, as our companies grow, I'm sure we will be able to benefit each other significantly."

Reader's Digest reportedly has been seeking ways to grow beyond its traditional magazine for years.At 12.6 million circulation, Reader's Digest is still one of the most widely read magazines, but its audience has been aging and its business has been hurt badly by the demise on the sweepstakes houses, which provided many of their subscribers.

Thomas O. Ryder, chairman and CEO of Reader's Digest, said he had admired the "remarkable work" of Roy Reiman and his staff for many years.
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"Reiman has a unique franchise, devoted customers and preeminence in the food publishing business.It is a company that started with a terrific editorial and publishing concept, and it keeps building successful new product categories and extensions of its existing product lines."

On its Web site, Reiman Publications assures readers there are no plans to begin accepting advertising or change the content of its magazines as a result of the Readers Digest sale.

Roy Reiman, who graduated from Auburn High School in 1952, has kept close ties with his hometown, contributing to a number of community projects over the years.Two years, he worked with local volunteers to renovate the city park and build an enclosed shelter house.

Last summer, Reiman was the architect behind a unique fundraiser for the community -- a three-point basketball shooting contest.
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Reiman, a 1957 graduate of Iowa State University in agricultural journalism, also has remembered his college Alma Mater.A $1 million gift from Roy and his wife, Bobbi, helped establish Reiman Gardens in 1995 on the Ames campus.Located on 14 acres at the entrance to the college, the collection of gardens celebrate the natural and botanical diversity of Iowa, as well as the historic traditions of horticulture and gardening at ISU.

The Associated Press contributed to this article.

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