Rose Art’s ex-owners want it back
By Staff -- Playthings, 3/4/2008 12:39:00 PM
MENDHAM, N.J.—Lawrence and Jeffrey Rosen, the former owners of Rose Art Industries Inc., sent a letter to Mega Brands last month expressing an interest in buying back its RoseArt activity and stationery businesses, the two said today.
The Rosens sold Rose Art to Montreal-based Mega Brands in 2005 for $350 million. The company had operated independently for 80 years until the purchase. In its final year before the sale, Rose Art tallied sales of $285 million and a $43 million operating profit. At the time, Lawrence Rosen was named Mega's senior vice president and chief marketing officer and Jeffrey will be executive vice president. In addition, Lawrence Rosen joined Mega Bloks’ board of directors.
The value of the Rosens' offer was not announced.
