It's going to get real nerdy here.
I was surprised at how low level a story this was this year.
CSS INDUSTRIES, INC. ACQUIRES SIMPLICITY CREATIVE GROUP
PLYMOUTH MEETING, PA, November 3, 2017 - CSS Industries, Inc. (NYSE: CSS), a leading consumer products company within the seasonal, celebrations and craft markets, today announced that it has completed the acquisition of Simplicity Creative Group (“Simplicity”) from Wilton Brands LLC for $64 million in cash, subject to certain closing and post-closing adjustments.
Simplicity is a leading provider of home sewing patterns, decorative trims, knitting and crocheting tools, needle arts and kids’ crafts products under the Simplicity®, Wrights®, Boye®, Dimensions®, and Perler® brand names. Simplicity’s products are sold to mass-market retailers, specialty fabric and craft chains, wholesale distributors and online customers.
“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.”
Who else is owned by CSS?
This is at the bottom of the McCall's Pattern page
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I have read nothing about what this means to you and me, and how it will be handled. Simplicity is not mentioned on the CSS webpages except in their press release for this purchase. I only know about this deal because I read about these deals for a data research job.
To that same point, the McCall Pattern Company is not mentioned in their webpages either.
In researching this article, I did find this website and blog post
And you should read her blog. Good stuff there.
But that's it.
For a little history:
I did find this
They were a hot prospect in 1976. It took until 1998 for them to be plucked.
James J. Shapiro (1909–1995) founded the Simplicity Pattern Company in 1927 and was its first president. The company was based on an idea of his father's, Joseph M. Shapiro (1888 Russia—1968 California), a magazine ad salesman.
In 1998, the company was acquired by Conso International Corp. Conso subsequently changed its name to Simplicity Creative Group, Inc., and since November 3, 2017 has been a subsidiary of CSS Industries. Until 2007, the company had its main plant in Niles, Michigan.
Backing up a little:
from that page: "Conso, which is headquartered in Union, is the world’s largest producer of decorative trimmings for home furnishings. It also sells decorative window hardware accessories and a variety of instructional publications for the use of decorative trimmings, tassels and window hardware. In addition to its U.S. operations, Conso has manufacturing facilities in the United Kingdom, Mexico and India. It had net sales of $73.4 million in 1997. Simplicity, which will continue to be based in New York, produces sewing patterns and catalogs for the apparel, home decorating, craft and costume markets. It posted sales of $55 million last year. “This transaction marks the end of one phase of Simplicity’s development and begins a new era of increased opportunities for our company and our associates,” Morris said. “Over the last several years I have said the key to success in our industry is to become a multi-products company. We are excited to be joining the Conso team.”
Wrights was founded in Massachusetts in 1897 as William E. Wright & Sons. Wright & Sons remained independent until 1985, when a group of shareholders—including a grandson of the founder—enabled the Newell Company to acquire a minority share in the company; by the end of the year Newell had achieved majority control and by 1987 total ownership. In 1989 Boye Needle Company was merged into Wrights. In 2000 Conso International, a South Carolina manufacturer of trims to the wholesale trade, and owners of the Simplicity Pattern brand, bought the company. Conso changed its name to Simplicity Creative Group and was acquired by Wilton Brands LLC and in November 2017 by CSS Industries.
One big umbrella to cover them all. Well, almost all: Burda is only distributed by Simplicity, not owned.
And CSS only bought McVoguerick last year in 2016
It does make me wonder how they will deal with Walmart and JoAnns (are there any other big chains now?) for distribution. CSS has let the previous three nameplates exist, and I assume they will continue this with Simplicity. They certainly are not claiming them very loudly; their 'face' products are craft items.
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'Complimentary acquisitions' in 'core markets' makes me a little uneasy. Eventually the charm factor will subside and the parent company will need to renegotiate with it's subsidiaries. There will be duplicate personnel and facilities.
What will be different will be the licensing agreements with designers and, I assume, the coming Disney monolith with 20th Century Fox.
In other words, costumes. You know how I love a licensing agreement!
I look forward to the clash of the titans and how this resolves in the new kleptocracy.
And damn, this could be a time suck
I mean, actual online games. I'm not screenshotting this. You go look.
from their respective Wikipedia pages.
links : I'm trying to cut down on my linking but not my giving credit when due
text from the link that I copied verbatim