CRA-Z-ART ANNOUNCES THE ACQUISITION OF LAFAYETTE PUZZLE FACTORY
Cra-Z-Art, a prime manufacturer and leader in trendy toy, art and stationery products, has announced today the strategic acquisition of Lafayette Puzzle Factory, based in Lafayette, Indiana. The deal will give Cra-Z-Art exposure in a rapidly growing toy segment. Puzzles were one of the fastest growing categories last year, increasing by 10.8% per NPD.
Lafayette is a leading manufacturer of puzzles in the United States with offices in Indiana and Hong Kong. They specialize in the artful design and marketing of various size puzzles, from 2,000 piece to 6 piece. The company was established in 2008 and has seen double digit sales increases over the last few years.
“Cra-Z-Art is very excited to be acquiring Lafayette Puzzle Factory. They make a truly quality product and it’s a perfect fit for our company, along side our arts and crafts, activities and adult coloring lines. It brings us back to our heritage when we successfully competed in this segment. Puzzles are also an increasingly vibrant and growing area and we hope to continue to build on that”, said Cra-Z-Art Chairman, Lawrence Rosen.
“We are delighted to be joining the Cra-Z-Art family and look forward to seeing our extensive line of great puzzle products grow with the help of their design and marketing expertise, said J.P. Clauson, President of Lafayette Puzzle Factory.
Lafayette puzzles are sold globally in retailers such as Target, Wal-Mart and Hobby Lobby.