After months of speculation, A.C. Moore, the east coast arts and crafts chain of 132 stores that started in Burlington County, N.J. 25 years ago, announced Tuesday that it has signed an agreement to be acquired by an affiliate of Sbar’s, one of the largest crafts distributors in the United States.
According to Phillyburbs.com the deal is worth close to $41 million. Stockholders will get $1.60 per common stock share in cash. “Sbar’s is very excited about partnering with A.C. Moore to build the most dynamic and exciting retailer in the arts and crafts space,” Sbar’s CEO “Pepe” Piperno said in a news release. “We are confident that Sbar’s expertise and history of innovation in arts and crafts merchandising and sourcing will greatly benefit A.C. Moore’s customers, vendors and employees.” Read the story here: AC Moore Agrees to Sell
Our very own Steve Robinson, VP of Sales at MacPherson’s was recently diagnosed with tonsilar cancer. We send him our prayers and best wishes as he fights the fight. His positive attitude, buoyant spirit and excellent medical care are sure to see him through with flying colors. For an inspirational account of how he is facing the new challenges, click here: Steve’s Blog
Another sad end of an era moment; Independent rep Dave Thompson reports that Marian Ledbetter passed away on September 30th. She and her husband Al founded Seattle, WA based Western Art Supply in 1967 one of the west coast’s pioneering art supply distributors, Top Augur of LeisureCrafts in Rancho Cucamonga, CA bought it in 1978 and changed the name to LeisureCrafts NW. She was 91 years old.
Plaid Enterprises, Inc. of Atlanta, GA and Delta Creative, Inc. of Los Angeles, CA announce on October 7th, 2011 that Plaid has acquired the international licensing rights to market, sell and distribute all Delta Creative, Inc. brands effective November 1, 2011.
Word on the street is this season’s Bravo channel reality TV show Work of Art is a must see! The season begins October 12th at 9pm/8 central time. More details here: Work of Art Season 2
