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Mega Brands considers offer - ToyNews

Mega Brands considers offer

RoseArt sale will aid Mega Brand?s continued recovery, according to its CEO.
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Mega Brands confirms it is considering the sale of its stationery and activities divisions.

The announcement comes after former RoseArt owners, Lawrence and Jeffrey Rosen, approached the firm, expressing their interest in a buy-back.

Marc Bertrand, Mega Brand’s CEO said: "The sale of the company's stationery and activities business is being considered as a means of generating meaningful cash proceeds to reduce its existing debt and allow the company to place increased focus on its core toy business," Chief Executive Marc Bertrand said in a release.

"This is a strong business with solid market positions in North America and we believe it would be an attractive acquisition to both strategic and financial buyers."

RoseArt generated sales of more than $202 million last year. Mega Brands bought it in 2005 for $350 million.

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