P.M. BRIEFING : Hallmark Agrees to Buy Willits
<i> From Times Wire Services </i>
KANSAS CITY, Mo. —
Hallmark Cards Inc. and Willits Designs said today that they have reached agreement in principle for Hallmark to acquire the Petaluma, Calif., designer, importer and marketer of collectible gift items. No dollar amount was given for the sale, expected to close in July.
Willits markets products under the trademarks of Willits Designs and Willits Galleries. Its line includes music boxes, snow globes, porcelain figurines, kaleidoscopes, ceramic mugs, banks and plates.
Besides its own designs, Willits also has key licensing arrangements with Coca-Cola and Disney to market the Coca-Cola Santa and Classic Winnie the Pooh products.
The privately held Willits, founded in 1961, serves about 12,000 retail accounts in the United States and Canada.
