Russ Berrie to consider possible sale or merger as part of review

By Lisa Kerner

Charlotte, N.C., May 28 - Russ Berrie & Co., Inc. announced that it will review "a full spectrum" of strategic alternatives, including a possible merger or sale of the company, with the assistance of Sagent Advisors.

No timeline for the review process was given.

"The sale of our gift segment [in December] transformed our business and focused our efforts on the attractive infant and juvenile industry," president and chief executive officer Bruce Crain said in a company news release.

"Based on the inquiries we have received, we have decided to examine a full range of alternatives that may enhance our long-term potential," Crain said.

Russ Berrie also remains focused on its internal growth strategies that include winning market share by creating design-differentiated, branded products and diversifying its distribution channels.

The company said it is also seeking to cut costs by identifying operational synergies.

Russ Berrie is an Oakland, N.J.-based designer, developer and distributor of infant and juvenile branded products.

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