Mergers & Acquisitions and Private Companies and Education & Workforce Development and Manufacturers and Manufacturing & Technology

Herff Jones sells photography division

April 11, 2011

Indianapolis-based class ring and yearbook maker Herff Jones will sell its photography division to Lifetouch Inc., the company announced Monday.

Terms of the deal were not disclosed. The sale is expected to close in May.

Herff Jones' photography facilities in Lewiston, Minn., and Charlotte, N.C., will be affected by the agreement. The company did not provide information on the number of employees at those locations.

"This decision is driven by a strategic commitment to focus on other business interests," Herff Jones President Joe Slaughter said in a prepared statement.

Herff Jones makes a number of scholastic recognition and graduation-related products, as well as educational materials. Lifetouch is based in Eden Prairie, Minn. Both companies are employee-owned.

The company is the 21st-largest private company in Indiana, according to IBJ research. It reported revenue of $515 million in 2009. At the time, it had a total of 4,000 employees, including 400 in Indiana.

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