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CSS Industries acquires Simplicity Creative Group

Published 11/03/2017, 10:34 AM
© Reuters.  CSS Industries acquires Simplicity Creative Group
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  • CSS Industries (CSS -0.5%) completed the acquisition of Simplicity Creative Group from Wilton Brands LLC for $64M in cash.
  • “A key component of our strategy is to strengthen and expand our portfolio in core markets through new product development and complementary acquisitions,” said Christopher J. Munyan, CSS President and Chief Executive Officer. “Simplicity’s pattern business is the perfect complement to our recently acquired McCall business, and the other product lines expand our reach into adjacent markets such as kids’ crafts and needle arts. Simplicity has built a strong portfolio of well-established brands in the craft industry, and we welcome their talented team to CSS.”
  • The Company financed the transaction primarily with borrowings from its existing credit facility.
  • Press Release
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