Hasbro Inc. and Cartamundi Group have signed a letter of intent to sell Hasbro’s manufacturing locations in East Longmeadow, Mass., and Waterford, Ireland to the Cartamundi Group. Cartamundi is a worldwide leader in the production and sales of playing cards and cards for games. Under the terms of the agreement, Cartamundi will continue to employ all regular manufacturing and distribution employees located in East Longmeadow and Waterford on comparable terms.
The proposed transaction includes all buildings, land, and equipment located at both sites. The East Longmeadow plant consists of approximately 1,150,000 square feet and is supported by more than 350 full-time employees. The Waterford plant consists of approximately 244,000 square feet and is supported by more than 160 full-time employees.
According to both companies, the sale of these facilities will have no impact on its commitment to the Games category, and the company will continue to invest in gaming.
It is anticipated that the transaction, which is subject to the signing of definitive agreements and the satisfaction of specified closing conditions, will close in the third quarter of this year. The specific terms of the transaction were not disclosed.
