ANW/Crestwood announced today that it has “merged its operations” with Making Memories. The parent company of the new combination will be called ANW/CreativityWorks.
There have long been rumors about Making Memories’ financial health, dating back to the staff layoffs in 2009 that included Margie Romney-Aslett. Industry concern about the company’s health had gotten so strong recently following several actions on the company’s part to liquidate old inventory that the company had even been forced to issue a public statement denying bankruptcy rumors.
Making Memories’ creative, marketing, and product development operations will continue to be run out of its current location in Salt Lake City, Utah. Shipping, purchasing and financial operations will be combined with ANW/Crestwoods’ existing operations in Lincoln Park, NJ. Dan Nelson will continue to provide creative direction as president of Making Memories, while working with ANW/CreativityWorks president Mark Caliguire “to coordinate and enhance the value and importance of each of the company’s’ brands,” according to the announcement:
Making Memories will continue to promote and build on its traditional leadership position in the scrapbooking, embellishment and creative tools business, as well as its growing technology business under its Slice Brand in the papercrafting and fabric sectors.
This is the second major addition to the ANW/Crestwood family of brands in barely 18 months. In May 2010, the company closed a deal for the purchase of the brands Westrim Crafts, Autumn Leaves, DMD, Crop in Style, Hip in a Hurry, Room Relish and Paper Bliss from Creativity, Inc. (Editor’s Note: Westrim, Inc. filed bankruptcy in April of 2011, but they no longer owned the brand associated with their corporate name at that time. It was owned by ANW/Crestwood, and not affected by the bankruptcy.)
Regarding the creative future of the Making Memories brand under its new corporate parent, ANW/CreativityWorks president Mark Caliguire stated in the announcement:
We will make sure that the creative energy and talent contained in the Making Memories team will have the independence to grow and develop their own leadership in product categories. We believe it is critical in our creative business that our companies can draw on the team where needed, but also have the freedom to go in complementary directions.
The company’s blog also hints at the company joining the signature line trend that is taking over the industry…but with who?
Looking ahead, you can expect to see trend-forward products to be released at CHA. Making Memories is teaming up with various artists in addition to releasing a signature line that crosses categories into several crafting areas from mixed media, fashion accessories, scrapbooking, papercrafting, and more.
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