EK to Explore Options

EK Success announced it has engaged Banc of America Securities as its financial advisor to help explore strategic alternatives for the company.

“The scrapbooking market and broader crafts industry continue to offer substantial growth prospects and have led to significant interest in the company, making this an opportune time to explore strategic alternatives,” says Chris Skinner, ceo of EK Success. “The company is actively pursuing several growth initiatives, including the Shoppe within a Shoppe merchandising concept about to be launched at several retail locations across the country, and a new lifestyle advertising campaign that spotlights specific examples of creative crafting as being Another EK Success Story™. These and other initiatives further our commitment to growth and continued market leadership, and we look forward to business as usual as we conduct this review.”

There is no assurance that the consideration of alternatives will lead to any transaction or other action by the company and, during the evaluation period, the company will not comment on its progress.

SOURCE: Craftrends News Digest