MeadWestvaco to Acquire Day Runner
Friday, October 03, 2003
STAMFORD, Conn., Oct. 2 -- MeadWestvaco Corporation today announced that it has executed an agreement to acquire the business of Day Runner, Inc., a designer, developer and distributor of loose-leaf, personal organizers and related products for the retail stationery market. Terms of the transaction were not disclosed. Completion of the transaction, which is subject to customary regulatory approvals, is expected to occur in the fourth quarter of 2003. "Day Runner, with its broad line of personal organizers and planning products, perfectly complements our consumer and office products business," said Neil A. McLachlan, president of MeadWestvaco's Consumer and Office Products Group. "It will extend our range of products in important areas and give us another strong brand that is popular with customers and consumers." Day Runner is a privately-held company based in Fullerton, California, which was founded in 1980 under the name Harper House.