The controlling stake was acquired Polaroid investment company Marquette Companies, owned by the family Polad (Pohlad), one of the richest in Minnesota. The cost of the transaction, which was completed on Monday, December 22 amounted to $ 70 million. About this newspaper Star Tribune.
A federal judge bankruptcy last week allowed an unnamed private owner to sell its stake. As a result, investors have increased their share to about 65 percent.
12:47 December 20, 2008
« We do this for three reasons. Firstly, we continue to look good strategic opportunities for growth. Secondly, we see that Polaroid – an iconic brand with a working model of licensing. Third, it is a local company with a solid management team, “- said the chief investment officer of Marquette Companies Yann Osella Wilcox (Jann Ozzello Wilcox).
Director General Polaroid Scott Hardy (Scott Hardy) said that this deal will be “the next step in the continuing revival of the famous American brand,” reports Associated Press.
Polaroid was founded in 1937 in Cambridge, Massachusetts, inventor Edwin Land. Since 1948, the company produced the same name cameras for snapshots. In addition, at different times, it produced sunglasses, photographs, film scanners and digital cameras. In 2008, Polaroid filed for bankruptcy.
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