American Greetings Sells AGI In-Store Point-of-Purchase Manufacturing Operation to RockTenn
NORCROSS, GA—August 21, 2014—RockTenn has signed an agreement to acquire A.G. Industries (AGI In-Store), a manufacturer of point-of-purchase displays and fixtures to the consumer products and retail industries. AGI In-Store is owned by American Greetings and employs approximately 300 employees in Forest City, NC. The transaction is expected to close later this quarter.
“AGI In-Store is an excellent strategic fit with RockTenn Merchandising Displays,” said Craig Gunckel, executive vice president, merchandising displays and folding carton. “Adding AGI In-Store supports our strategy to provide a more holistic portfolio of innovative in-store marketing solutions, including ‘store-within-a-store’ displays.”
AGI In-Store operates with a strong commitment to quality, creativity and customer satisfaction, and will go to market as RockTenn In-Store Solutions.
“We are pleased that the impressive business model of AGI In-Store will be able to expand to its fullest potential under RockTenn’s ownership,” stated Zev Weiss, Co-CEO of American Greetings. “We look forward to maintaining our long-standing relationship with the company as one of its customers for retail fixtures.”
KeyBanc Capital Markets is acting as exclusive financial advisor to American Greetings.
RockTenn is one of North America's leading providers of packaging solutions and manufacturers of containerboard and paperboard. RockTenn's 26,000 employees are committed to exceeding their customers' expectations-every time. The company operates locations in the United States, Canada, Mexico, Chile and Argentina.
About American Greetings
For more than 100 years, American Greetings has been a creator and manufacturer of innovative social expression products that assist consumers in enhancing their relationships to create happiness, laughter and love. The company's major greeting card lines are American Greetings, Carlton Cards, Gibson, Recycled Paper Greetings and Papyrus, and other paper product offerings include DesignWare party goods and American Greetings and Plus Mark gift-wrap and boxed cards.
American Greetings also has one of the largest collections of greetings on the Web, including greeting cards available at Cardstore.com and electronic greeting cards available at AmericanGreetings.com. In addition to its product lines, American Greetings also creates and licenses popular character brands through the AG Properties group. Headquartered in Cleveland, American Greetings generates annual revenue of approximately $2 billion, and its products can be found in retail outlets worldwide.