CSS Industries unit buys stationery firm

Philadelphia-based CSS Industries Inc. announced today that its C.R. Gibson LLC company completed the acquisition of iota, a designer, marketer and seller of stationery products including notecards, gift wrap, journals and stationery kits.

The purchase price was not disclosed, and a CSS representative was not immediately available for comment.

In addition, iota also operates a surface design and licensing program, CSS Industries said in a release.

C.R. Gibson will continue to design, market and sell products under the iota name, and will maintain the iota design and marketing office in Basalt, Colo. Kelly Alford, iota founder and designer, will be vice president of design (iota).

Company shares were priced at $30.74 in midafternoon trading on the New York Stock Exchange, up $0.12 from Friday's close.