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Jostens buys owner of ArtCarved, Keepsake brands
Yearbook and commemorative ring company Jostens Inc. announced Tuesday that it will acquire American Achievement, which also creates class rings as well as bridal and family jewelry.
Minneapolis--Yearbook and commemorative ring company Jostens Inc. announced Tuesday that it will acquire American Achievement, which also creates class rings as well as bridal and family jewelry.
The transaction, made between Jostens and American Achievement Group Holding Corp., is expected to close no later than the second quarter of 2014, pending closing conditions and regulatory review, the companies said in a statement.
American Achievement’s products and brands include Balfour, Taylor, ArtCarved and Keepsake. ArtCarved and Keepsake are both fine jewelry brands, and ArtCarved’s bridal rings are sold by jewelers nationwide.
Fenway Partners, the company’s majority stockholder, purchased American Achievement in 2004.
Jostens is a wholly owned subsidiary of Visant Corp.
“American Achievement and Jostens are a natural fit and by bringing together our strong brands and capabilities, we will help ensure a bright future for both companies. With our complementary product lines and shared cultures of excellence, the combined company will be better positioned to maximize sales opportunities and capture operating efficiencies while better serving a growing customer base,” said Steven Parr, president and CEO of American Achievement.
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