Jostens acquires Austin memorabilia company

Nov 21, 2013
Austin Business Journal

Jostens Inc. has acquired American Achievement Group Holding Corp., whose brands include Austin-based Balfour, Taylor Publishing, Art Carved, Keepsake and Keystone

Terms of the deal weren’t disclosed, although a New York Times report said the the price was about $500 million

The acquisition brings the Austin-based maker of championship, military and class rings and other educational institution memorabilia such as letter jackets and graduation garb under the wing of Jostens, which produces similar products

The company, then known as Commemorative Brands Inc. had gross revenue of $294 million in 2010, according to data compiled by the Austin Business Journal, and employed 520 people in the Austin area

Minneapolis-based Jostens is a subsidiary of Armonk-based Visant Corp., which is controlled by affiliates of Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) and DLJ Merchant Banking

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