Herff Jones' acquisition of Texas firm aborted

Norm Heikens
December 5, 2008
Back to TopCommentsE-mailPrintBookmark and Share

An acquisition in the works between Herff Jones Inc., the Indianapolis-based giant that makes class rings and other educational products, and an Austin, Texas, competitor has been ended by mutual agreement, the parties said Friday.

The acquisition target, American Achievement Corp., is owned by Austin-based AAC Group Holding Corp.

Herff Jones offered no further comment on the deal, which was announced in May. American Achievement said regulators would not approve the deal, but would not discuss details.

Had the deal been completed, it would have been the second time in four years for American Achievement to trade hands.

In 2004, the company was acquired from Castle Harlan Inc. by another New York private equity firm, Fenway Partners Inc.

Herff Jones has been on an acquisition binge.

In April, it bought Framing Success Inc. of Virginia Beach, an education supplier in Virginia Beach, Va. In March, Herff Jones acquired Murphy Cap & Gown Co. of St. Petersburg, Fla.

Based at 4501 W. 62nd St., Herff Jones is owned through an employee stock plan, and has 4,000 workers at 19 U.S. plants.

It employs about 500 in Indiana at its headquarters and plants that print graduation announcements and make maps, globes and other educational materials.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
thisissue1-092914.jpg 092914

Subscribe to IBJ