CSS INDUSTRIES, INC. ANNOUNCES ACQUISITION OF IOTA
CSS Industries, Inc. (NYSE: CSS) announced today that its C.R. Gibson, LLC company completed the acquisition of substantially all of the business and assets of iotatm (www.everyiota.com), a leading designer, marketer and seller of stationery products such as notecards, gift wrap, journals, and stationery kits. In addition, iota also operates a surface design and licensing program.
C.R. Gibson will continue to design, market and sell product under the iota name, and will maintain the iota design and marketing office in Basalt, Colorado. Kelly Alford, iota founder, designer and "big cheese", will serve as Vice President of Design (iota). Iota products currently are available at more than 1,600 fine stationery and gift stores and selected chain retailers throughout the United States and Canada.
"CSS and C.R. Gibson are truly excited by this new association with iota," said Christopher Munyan, President and Chief Executive Officer of CSS Industries, Inc. "Kelly has created one of the most original, new design styles in the industry, and we look forward to expanding iota's product distribution and licensing opportunities."
"This is a dream come true for me," said Kelly Alford. "For the last five years, my team and I have had a wonderfully rewarding experience creating and nurturing iota, and as we approach the next steps to our growth and expansion, I realize how fantastic it will be to have C.R. Gibson's operational and distribution assets behind our unique brand."
"It will be very satisfying to provide our loyal and enthusiastic sales team with a broader product line â€" the new formats we have all been longing for," Alford further explained. "In the course of my discussions with CSS and C.R. Gibson, I am honored by the respect they have demonstrated for the integrity of the iota brand, and humbled by their desire to expand its presence in the marketplace."
CSS is a consumer products company primarily engaged in the design and sale of seasonal and all occasion products, principally to mass market retailers. These products include gift wrap, gift bags, gift boxes, boxed greeting cards, gift tags, decorative tissue paper, decorations, classroom exchange Valentines, decorative ribbons and bows, Halloween masks, costumes, make-ups and novelties, Easter egg dyes and novelties, craft and educational products, memory books, stationery, journals and notecards, infant and wedding photo albums and scrapbooks, and other gift items that commemorate life's celebrations.
C.R. Gibson-branded products are available at more than 10,000 gift retailers in the United States, Canada and the United Kingdom. Founded in 1870 by British lithographer John Gibson, C.R. Gibson (www.crgibson.com) is a leading designer, marketer and seller of memory books, social books, stationery, photo albums, and other gift items that commemorate life's celebrations.
Founded in 2003 by designer Kelly Alford, iota is named after the ninth letter of the Greek alphabet for its simple, yet powerful character. As a designer of stationery essentials, iota is distinguished by inventive and playful designs, bold colors and affordable price points. Iota's stationery collections can be found in over 1,600 stores throughout the U.S. and Canada. Iota also licenses its popular patterns on textiles, leather and other retail goods. For more information on iota's stationery collection and licensing opportunities, please call 866.393.4682 or visit www.everyiota.com.
FOR FURTHER INFORMATION CONTACT:
Clifford E. Pietrafitta
Chief Financial Officer