CSS Industries, Inc., a leading consumer products company serving the craft, gift and seasonal markets, today announces that it has entered into a merger agreement under which IG Design Group plc, through a subsidiary, will acquire CSS for $9.40 per share in an all cash transaction valued at approximately $88 million.
The co-determination negotiations can result in the reduction of 90 persons at maximum mainly during year 2021 by estimate, and in possible temporary lay-offs and part-time work during 2020. Fabrics Business Unit employs altogether approximately 500 persons in its Tampere operations.
