Crane & Co. To Acquire William Arthur
DALTON, Mass., Nov. 1, 2012 /PR Newswire/ -- Crane & Co., the iconic American brand known for its premier quality stationery, announced today that it has signed an agreement to acquire William Arthur, a subsidiary of Hallmark Cards, Inc.
Renowned for quality and innovative products, the addition of William Arthur and Vera Wang to the Crane portfolio unites three of the leading brands within the stationery industry.
"The acquisition of William Arthur reinforces Crane's commitment to being a leader in the stationery market," said Stephen P. DeFalco, Chief Executive Officer, Crane & Co., Inc. "By uniting three of the industry's premier brands- Crane, William Arthur and Vera Wang-we are investing in the category and will provide the market with a broad range of high-quality, outstanding designs."
"I look forward to building on the strength of these iconic brands," said Katie Lacey, President, Crane Stationery. "Operating these three brands as one company enables Crane to be a stronger force in the market. We are now in a position where we can enhance our support for retailers and work to develop the category overall by celebrating the handwritten note and engraved invitation."
The combined company will report to Lacey. William Arthur, based in West Kennebunk, Maine, will continue to operate out of its headquarters, delivering the superior quality and service for which it is known. In the second half of 2013 business operations will be consolidated to Crane's North Adams, Massachusetts facility with integrated sales, customer service and marketing.
The acquisition is expected to close on November 30, 2012. Crane & Co. and Hallmark are both privately held companies; the specific terms of the agreement are not being released.
About Crane & Co., Inc.
Premier stationery purveyor Crane & Co., Inc. has been dedicated to the art of classic correspondence for more than two centuries. Since 1801, the bespoke luxury brand has been a leader in the social networking business, producing 100% cotton quality paper for personalized notes, business stationery, wedding invitations, birth announcements, calling cards and more. The seventh-generation family-owned business based in Dalton, MA, continues to celebrate treasured social connections and life's milestones through its exquisite quality, design and craftsmanship. Crane & Co. has produced the paper for United States currency since 1879 and manufactures products used in banknote security and industrial applications. For more information on Crane products please visit www.crane.com.
Hallmark makes the world a more caring place by helping people express what's in their hearts and spend time together – a privilege few other companies in the world enjoy. Hallmark greeting cards and other products are found in more than 38,000 retail outlets in the United States, including the network of flagship Hallmark Gold Crown® stores. The brand also reaches people online at Hallmark.com and on television through Hallmark Hall of Fame original movies and cable's top-rated Hallmark Channel. Worldwide, Hallmark offers products in more than 30 languages available in 100 countries. This privately held company is based in Kansas City, Mo., and is led by the third generation of the founding Hall family. Visit http://corporate.hallmark.com for more details.
SOURCE Crane & Co.
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