American Greetings Sells Candle Lines
By Staff -- Gifts & Decorative Accessories, 1/17/2007 12:42:00 PM
Cleveland — American Greetings Corp. completed the sale of its candle product lines to Light House Candles LLC. The company entered into an agreement to sell all the assets associated with its candle lines in December 2006, in order to focus on products “more closely related to its core social expression business.” The terms of the deal were not disclosed. American Greetings expects to record a pre-tax loss of $15 million–$17 million as a result of this transaction.
