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Archive | October 5, 2011

American Crafts to Produce Studio Calico Lines

American Crafts announced today that it has entered into an agreement with Studio Calico to manufacture, sell and distribute Studio Calico’s popular line of scrapbooking products.

Studio Calico was founded as a kit club in 2008 by April Foster. The company began manufacturing and wholesaling their own product lines in 2009. Both the kit club and wholesale product lines have become successes with consumers, rapidly growing the start-up company into a major player in the industry. Products such as Mister Huey’s color mist, Fabrips, and Wood Veneers have made Studio Calico not only a bestseller but a trendsetter during the company’s short life. The company’s designs are arguably responsible for igniting the passion for wood grain texture that is currently over taking the industry, for one.

American Crafts is based in Orem, Utah and has been making scrapbooking products since the early 1990′s. The company is known for products such as its Thicker line of alphabet stickers, pens, albums, and paper collections. In 2009, American Crafts purchased the Pebbles line of products, and they also launched a signature line of products by Amy Tangerine at CHA Summer 2011. Continue Reading →

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AC Moore Sold To Crafts Distributor Sbar’s Inc.

Struggling craft chain store AC Moore agreed yesterday to be acquired by arts and crafts distributor Sbar’s Inc for $1.60 per share in cash, approximately $40.8 million. The stock closed on Monday at $.95 per share, but rose to $1.50 after news of the buyout hit the market. The stock has been steadily losing value since hitting a 52 week high in March of $3.56.

The transaction is being financed by Wells Fargo N.A and  is expected to close during the fourth quarter of 2011. After the transaction’s close, AC Moore stock will no longer be publicly owned or traded. Continue Reading →

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