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Corporate News Blog - CSS Industries Finalizes Acquisition of DIY Crafts and Products Company Simplicity Creative Group from Wilton Brands LLC

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LONDON, UK / ACCESSWIRE / November 7, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for CSS Industries, Inc. (NYSE: CSS), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CSS. The Company announced on November 03, 2017, that it has completed the acquisition of Simplicity Creative Group from Wilton Brands LLC. The all-cash deal is valued approximately $64 million, subject to certain closing and post-closing adjustments. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the deal, Christopher J. Munyan, President and CEO of CSS Industries, said:

"A key component of our strategy is to strengthen and expand our portfolio in core markets through new product development and complementary acquisitions. 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."

CSS Industries has indicated that the complete details of the transaction would be shared while announcing its Q2 2017 earnings results which is scheduled for release on November 08, 2017.

Benefits of the acquisition

CSS Industries expects that the acquisition of Simplicity's business would be highly beneficial to the company both financially and strategically. CSS Industries expects that the acquisition will result in annualized synergies of $4 million to $5 million from the third fiscal year after the closing of the transaction.

The deal would establish CSS Industries as the leader in in home sewing patterns. The deal would be complementary to the Company's Offray® brand of ribbon and trim assortments and expand its product portfolio with the addition of Simplicity's Wrights® brand of trims, tapes and braids. The deal will also complement expand CSS Industries' core crafts brands including Boye®, Perler®, and American Girl Crafts®. The transaction will also expand the company's presence in the lucrative and growing kids' crafts market. The deal would result in synergies across various business areas viz., product development, licensing, manufacturing, distribution, information technology and online marketing. The deal will allow CSS Industries to leverage its customer base to expand Simplicity's reach and popularity.

About Simplicity Creative Group

Simplicity Creative Group started offering commercial patterns in 1927 and since has been one of the leading suppliers in the craft, sewing, 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 via mass-market retailers, specialty fabric and craft chains, wholesale distributors and online customers. Simplicity's last twelve-month sales was approximately $90 million, and earnings before interest, tax, depreciation, and amortization (EBITDA) was $10 million.

About Wilton Brands LLC

Wilton Brands LLC, through its subsidiaries, designs, produces, markets, and sells food crafting and consumer products. Its two main subsidiaries are Wilton Enterprises and Simplicity Creative Group. Wilton Enterprises is the leading food-crafting company in the industry, with the number one position in cake decorating and bakeware. Simplicity Creative Group is dedicated to supporting individual creative expression through Do-It-Yourself crafts and products. Wilton Brands acquired Simplicity in 2013.

About CSS Industries Inc.

Plymouth Meeting, Pennsylvania based CSS Industries is a consumer products company engaged in the design, manufacture, and distribution of seasonal and all occasion social expression products. Its products include craft ribbon and buttons, packaging ribbon and bows, sewing patterns, classroom exchange Valentines, infant products, journals, fashion buttons, boxed greeting cards, gift tags, gift card holders, gift bags, gift wrap, decorations, floral accessories, craft and educational products, Easter egg dyes and novelties, memory books, scrapbooks, stickers, stationery, etc. The company sells its products through mass merchandisers, chain drug stores, supermarket chains, party stores, and specialty gift shops. The company offers its products principally under the Paper Magic, Berwick, Offray, C.R. Gibson, McCall's, Butterick, Kwik Sew, Vogue Patterns, Markings, Stepping Stones, Tapestry, Seastone, Dudley's, Eureka, Stickerfitti, Favorite Findings, and La Mode brand names.

Last Close Stock Review

On Monday, November 06, 2017, the stock closed the trading session at $29.33, dropping 2.40% from its previous closing price of $30.05. A total volume of 34.82 thousand shares have exchanged hands, which was higher than the 3-month average volume of 27.97 thousand shares. CSS Industries' stock price rallied 8.79% in the last three months, 8.31% in the past six months, and 20.45% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 8.35%. The stock is trading at a PE ratio of 10.83 and has a dividend yield of 2.73%. At Monday's closing price, the stock's net capitalization stands at $266.32 million.

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