Specialty Catalog Confirms Planned Sale

Share this content:
Niche marketer Specialty Catalog Corp. intends to take the company private through a sale and merger agreement with a current shareholder, the cataloger said Friday.


This is the second attempt at acquiring the direct marketing company in the past two years. In 1999, Golub Associates Inc., a New York-based investment company, announced plans to buy Specialty Catalog. The deal was terminated three months later "because conditions could not be satisfied on a timely basis," company officials said at the time.


Specialty Catalog, South Easton, MA, now is to be sold to Specialty Acquisition Corp., a corporation formed by shareholder Guy Naggar. The deal is expected to close this summer. Last week the cataloger announced that Naggar had made the acquisition offer on condition that the company would merge with another company Naggar plans to form.


Naggar, who owns 29 percent of Specialty Catalog's stock, proposed to acquire the company for cash at $3.75 per share. The proposal represented a 43 percent premium on the $2.63 share price at closing on April 24, the last trading day before Naggar made his proposal.


The cataloger expects other shareholders and some members of the board of directors, as well as management, to join Naggar as stockholders of the newly formed company.


Specialty Catalog Corp. sells women's wigs and hairpieces through its catalogs, Paula Young and Especially Yours. The company was created in 1978 and circulates 25 million catalogs a year between the two titles.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above