This press release from ANW/Crestwood just came across my desk. Creativity Inc., purchased by ANW/Crestwood and renamed to Creativity Works. Good luck with the new acquisition and launch of Creativity Works.
FOR IMMEDIATE RELEASE
5 May 2010
ANW/Crestwood, Inc. is pleased to announce the finalization of its purchase of the scrapbooking, general crafts, kid’s crafts and home décor businesses of Creativity, Inc. This new venture will be called CreativityWorks and will focus on expanding the market penetration for those businesses as well as the development of additional consumer products sectors. It will operate parallel to ANW/Crestwood’s other consumer products companies, The Paper Company and TPC Studio.
CreativityWorks will continue to promote the brands Westrim Crafts, Autumn Leaves, DMD, Crop in Style, Hip in a Hurry and Room Relish. However, The Paper Bliss line of embellishments will be transferred to the direction of the TPC Studio product team.
Creativity Works will be based in the Los Angeles area and will be directed on a daily basis by Executive Vice President Nick Lazarou and Vice President Abbey Blaszczyk who will be working with an experienced team of designers and product managers. For the balance of the year shipping will be done out of the current Creativity, Inc. distribution center in Van Nuys, CA. under the terms of an agreement between ANW/Crestwood and Creativity, Inc. By year’s end it is anticipated all shipping will be consolidated in one facility for all ANW/Crestwood companies. CreativityWorks will continue to operate a Hong Kong procurement office.
In a statement, ANW/Crestwood President and Co-CEO Mark Caliguire said, “We have acquired a business with a long history in the craft market, with brands that have been mainstays for years, but more importantly, this new company is comprised of a group of people with energy, creativity, product knowledge and a desire to continue to broaden into a number of new markets while expanding our core craft business”. He added, “I am excited about the sourcing expertise we have acquired and how well this will integrate into our current product teams.”
EVP Nick Lazarou stated, “The owners of ANW/Crestwood bring a new commitment to energizing this business. We have been given the green light to take this to another level with the commitment of the financial and creative resources necessary to make CreativityWorks a consumer products company to be reckoned with.”
Added VP Abbey Blaszczyk, “We have been working on designs, licenses and sales strategies to execute in anticipation of the finalization of this deal, and we are ready to hit the ground running with numerous product presentations in an array of consumer retail channels”.
For further information contact:
Mark Caliguire – firstname.lastname@example.org
Nick Lazarou – email@example.com
Abbey Blaszczyk – firstname.lastname@example.org