Standex to sell Standard Publishing, Berean Christian Stores |
![]() |
![]() |
Sunday, 30 October 2005 07:00 PM America/New_York |
Standard Publishing and Berean Christian Stores have been put up for sale by parent company Standex International Corporation. The move was announced Thursday by the owners, whose President and Chief Executive Officer Roger Fix said in a statement that the two businesses-part of Standex's Consumer Group, along with citrus fruit direct marketer Standex Direct-did not “fit strategically with our other segments.” Standex's Group Vice President of the Consumer Group Randy Scott, also president of the 135-year-old publishing division, said the decision would benefit both parties. The interests to be sold would have “the potential opportunity to be a part of a company that is dedicated to a shared vision and is committed to investing in its future.”
The sales are to be handled by investment bankers Berkery, Noyes and Co., LLC, where managing director Mary Jo Zandy said no cutbacks or layoffs were planned for the businesses, which were “well-managed and thriving.”
|