American Greetings receives offer to go private
CLEVELAND — A greeting cards company announced that its board of directors has received a nonbinding proposal to go private.
American Greetings confirmed that the board received a letter from CEO Zev Weiss, president and COO Jeffrey Weiss, along with certain other members of the Weiss family and related parties, to acquire all of the outstanding class A and class B common shares of American Greetings not currently owned by the them for $17.18 per share.
The company expects that its board will form a special committee of independent directors to consider the proposal. American Greetings noted that it "does not anticipate making any further public statements about this matter or the activities of the special committee unless and until either it enters into a definitive agreement for a transaction or the special committee determines that no such transaction will be effected."
American Greetings is scheduled to disclose its second quarter 2013 earnings on Friday.
Spectrum Brand Holdings’ Remington division enters women’s hair accessories category
MADISON, Wis. — Consumer products company Spectrum Brands Holdings announced on Wednesday that its Remington personal care division has entered the U.S. women’s hair accessories market with a full line of basic-to-trend hair accessories, accessory storage items and brushes for both adults and teenage girls.
The new line includes such items as hair elastics that also can be worn as jewelry (pictured) and hair clips.
Remington already has secured sizeable placements at several major retailers in the U.S. women’s hair accessory category, a consumables market estimated at more than $1 billion annually, the company stated. Remington also is leveraging its global footprint in hair care, shaving and grooming to enter women’s hair accessories markets in Europe and Latin America.
“Our hair accessory product development has a strong emphasis on executing fashion and trend and always with a focus on winning the value position. With our brand positioning of ‘How the World Gets Ready,’ we have a unique opportunity for cross promoting our hair accessories with complementary segments of our business, such as hair care appliances, and even with other adjacent beauty categories by co-merchandising in stores and offering in-pack trial samples or coupons for discounts with purchase,” Remington global VP Drew Fiorenza said.
Paris Business Products expands Dotz brand
WESTAMPTON, N.J. — A line of cord and cable management products is expanding to include a new item.
New Dotz reusable cord straps are designed to bundle together cords without having to use permanent ties. Each Dotz reusable cord strap features a built-in lock to keep bundles secure. The straps allow users to organize and uniquely identify cords by location and length.
Available in packs of five, new Dotz reusable cord straps carry a suggested retail price of $3.99.