Noteworthy Acquires Krieger-Ragsdale’s Memo Book Division
October 6, 2009
Supplier firm Noteworthy (asi/74360) announced today that it has acquired the memo book division of former industry supplier Krieger-Ragsdale. Financial terms of the deal were not released. Krieger-Ragsdale filed for Chapter 11 bankruptcy in October 2008, and then proceeded to shut down its operations in April of this year.
"This is a bitter-sweet acquisition," said Carol Constantino, president of Noteworthy. "It is unfortunate to see a long term fixture in our industry succumb to bankruptcy, however, we recognized that the product line was a staple in our industry. These memo books are a natural extension to our paper products and enhance our notepad line."
Noteworthy says it expects a smooth transition and should be able to be taking orders for Krieger-Ragsdale memo books shortly. "The machine should be moved, up and running and ready to take orders within six weeks max," said Wayne Ballard, vice president of manufacturing. "We always get excited about new equipment and technology. We are all dedicated to providing top quality products and this will be another great addition to our lineup."
Noteworthy, which was formed in 1954, reported its 2008 North American ad specialty revenues as $32.3 million.