Media and publishing company Meredith Corp. said it has agreed to buy privately held EatingWell Media Group for an undisclosed sum.

The company said it expects the transaction to add to its earnings but does not see a material impact on its financials.

EatingWell Media Group publishes the bimonthly EatingWell magazine, which has a paid subscription of 350,000. Meredith said it expects to increase the circulation to 500,000 by early next year.

Meredith, which publishes magazines targeted at women, on June 16 said it will shut down its ReadyMade do-it-yourself brand and lay off 75 employees.