TSX: CKI, CKI.DB; CKI.DB.A
HALIFAX, Jan. 15 /CNW/ - Clarke Inc. ("Clarke") announced today that it
has entered into an agreement with ICA Home Décor ("ICA") pursuant to which it
has assigned the key operating assets and certain related liabilities
associated with Clarke's wholly-owned subsidiary, Art in Motion Income Fund
("AIM"), to ICA in exchange for an equity interest in the combined business.
Clarke will appoint a member to the ICA board of directors as part of the
arrangement. The unassigned portion of the AIM business will be wound up by
Clarke President and COO Rob Normandeau commented on the transaction,
saying "this business combination allows ICA, an industry leader in terms of
its procurement, distribution and customer services capabilities, to access
the best creative staff and image archive in North America, while also gaining
access to an extensive artist network and a strong sales team. We are
confident that the combined business will be well-positioned to meet the
challenges it will face in the current marketplace".
About ICA Home Décor
Compton California-based ICA Home Décor is a leading manufacturer and
retailer of wall décor and decorative home accessories.
Halifax-based Clarke Inc., led by an entrepreneurial team of investment
professionals, is an activist and catalyst investment company that creates
shareholder value by identifying businesses with the potential for improved
performance, and working actively to uncover the value.
Clarke's securities trade on the Toronto Stock Exchange (CKI, CKI.DB,
CKI.DB.A); for more information about Clarke Inc., please visit our website at
For further information:
For further information: Matt Towns, Vice President, Research and Risk
Management, Clarke Inc., (902) 442-3000, Fax: (902) 423-4001