UPDATE: The news is confirmed by an independent source. More to follow.
Update 2: Scroll down to read the full e-mail we received.
Though I want more confirmation, It appears as though Cartamundi has purchased the United States Playing Cards Company.
The following is from what appears to be a press release sent to our email:
What do you think? Comment Below!
Update – The Full email we received:
The Belgian privately owned group Cartamundi has signed an agreement to buy The United States Playing Card Company (USPC) from its parent company Newell Brands. The acclaimed playing cards maker’s focus is on North America and Spain. Through this acquisition, Cartamundi continues to invest in the global entertainment market.
The United States Playing Card Company, owner of the iconic brands such as Bicycle®, Bee®, Hoyle® and Fournier®, is the global standard within the world of playing cards. The business employs over 350 people and has manufacturing facilities in the U.S. city of Erlanger (Kentucky) and the Spanish city of Vitoria (Álava). In 2018 USPC realized net sales of approximately 112 million US dollars.
“We are excited about the opportunity and look forward to welcoming The United States Playing Card Company to the Cartamundi group. USPC is a globally renowned company and, like us, has a passion for its products and consumers. The segments in which USPC operates are perfectly complementary to those of Cartamundi. This investment will further deliver on Cartamundi’s purpose of sharing the magic of playing together towards consumers worldwide.”
Stefaan Merckx, CEO of Cartamundi
“We are delighted about the prospect to join forces with Cartamundi and leverage both companies’ rich history and passion of card making, as well as our complementary global presence. We look forward to working together in furthering our shared ambition to delight consumers across the globe.”
Michael Slaughter, CEO of USPC
Cartamundi wants to expand its geographic reach through new countries and new channels. This proposed acquisition is a logical step forward, as USPC is a strong player in the growing cardistry, casino and specialty playing cards segments. The combined company will employ 2,500 people and operate 13 state-of-the-art manufacturing facilities across four continents. As such, Cartamundi has a strong local commitment. A commitment to its customers, but also to the local economy and the environment.
“Consumers from different regions have different needs. The best way to serve them is to rely on the knowledge and experience of our local teams. “
Stefaan Merckx, CEO of Cartamundi
The transaction is expected to close in the second half of 2019, subject to customary closing conditions, including regulatory approvals.
Alta Capital Partners acted as financial advisor and Hughes Hubbard & Reed LLP acted as legal advisor to Cartamundi on the transaction.
Cartamundi is Latin for “Cards for the World”. With a history dating back to 1765, Cartamundi is the world’s leading manufacturer of card & board games and digital solutions. With a network of owned sales offices, 11 state-of-the-art manufacturing facilities and a workforce of over 2,200 people, Cartamundi is a prominent and growing supplier to the global cards, games and toys industry. In 2018, Cartamundi generated a revenue of approximately $440 million.
Legendary games such as Monopoly® and Pokémon® run off the Cartamundi production lines, as do many different varieties of playing cards and card games for consumers as well as casinos.
With its strong brands such as Color Addict®, Shuffle®, COPAG® and Grimaud®, Cartamundi created a compelling range of playing cards, children’s card games and family games which can be found in all major retailers across the globe. All contributing to fulfilling the Cartamundi purpose of “Sharing the Magic of Playing Together”.
Cartamundi’s corporate headquarters are located in Turnhout, Belgium. Manufacturing facilities are located in Japan, India, Poland, Germany, France, Belgium, United Kingdom, Ireland, United States of America and Brazil.
About Newell Brands
Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play. Additional information about Newell Brands is available on the company’s website, www.newellbrands.com.