P.M. BRIEFING : Hallmark to Buy Stuffed-Toy Firm
<i> From Times Wire Services </i>
BRISBANE, Calif. —
Hallmark Cards Inc. said today that it has agreed to acquire Dakin Inc., a privately held leading maker of plush stuffed toys, for undisclosed terms.
Kansas City-based Hallmark, the world’s largest producer of greeting cards, said the purchase of Brisbane-based Dakin is expected to be completed by March.
Dakin has annual sales of about $150 million and a work force of 600. In addition to plush stuffed toys, Dakin makes dolls, puppets, photo frames and other gift items.
