CSS Industries Announces the Sale of the Halloween Portion of Its Paper Magic Business For $6-7.6M

CSS Industries

announced today that it has sold the Halloween portion of its Paper Magic Group, Inc. (“PMG”) business to Gemmy Industries (HK) Limited (“Gemmy”). Under the terms of the purchase agreement executed yesterday, Gemmy acquired, upon execution of the agreement, certain tangible and intangible assets associated with PMG's Halloween business. As part of the transaction, PMG will remain responsible for the manufacture, sale and distribution of all PMG Halloween products (such as Halloween masks, costumes, make-up and novelties) for the Halloween 2012 season. Stifel Nicolaus Weisel served as exclusive financial advisor to CSS in the transaction.