CSS INDUSTRIES, INC. ANNOUNCES ACQUISITION OF SEASTONE
CSS Industries, Inc. (NYSE: CSS) announced today that its Berwick Offray LLC company completed the acquisition of substantially all of the business and assets of Seastone® (www.seastone.com), a leading provider of specialty gift card packages. Seastone's success in providing retailers with innovative Give-A-Gift® brand packages to personalize gift card programs, combined with valuable designs and patents, led CSS to make the acquisition. Berwick Offray will continue to design, market and sell product under the Seastone® and Give-A-Gift® names.
"We are pleased to make the acquisition of Seastone's Give-A-Gift® line of gift card packages. Seastone's Give-A-Gift® products offer retailers a large variety of gift card packaging solutions which enhance our seasonal and everyday product offerings," said Christopher J. Munyan, President and Chief Executive Officer, CSS Industries, Inc.
"This acquisition creates opportunities between CSS and the Give-A-Gift® brand that will greatly benefit our customers," said Eric Child, President of Seastone. "Combining Seastone's variety of gift card packaging with CSS' vast array of other gift related products creates a well rounded offering for retailer's gift card programs," said Warren Osborn, Seastone's founder and Chairman. Mr. Child will be assisting in the transition of Seastone to Berwick Offray LLC.
Seastone's Give-A-Gift® line of products pioneered specialty gift card packaging as the preferred way to accessorize and present gift cards. Through its design capabilities, Give-A-Gift® offers gift card packaging in a variety of formats, including designer embossed tins, beautifully wrapped boxes with hand-tied bows, inlaid wooden boxes and plush toys. For more information, visit www.seastone.com or www.giveagift.com.
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, floral accessories, 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.
About Berwick Offray LLC BOC Design Group (consisting of Berwick Offray LLC and Cleo Inc) primarily focuses on the design and sale of seasonal and all occasion ribbons, bows, gift wrap, gift bags and decorative tissue to various market channels including mass, drug, party, dollar, craft, wholesale and independent retail.
About Seastone Seastone® is a market leader in specialty gift card packages and gift card promotional programs. The company pioneered specialty gift card packaging and offers turnkey gift card promotional programs through its Give-A-Gift® brand. Seastone's Give-A-Gift® also provides fully customizable programs available for use by many retailers, restaurants, banks and mall groups.
FOR FURTHER INFORMATION CONTACT:
Clifford E. Pietrafitta
Chief Financial Officer