News Release Acquisition
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News Release FOR IMMEDIATE RELEASE January 20, 2012 Coastal Department Stores Inc. To Acquire The Putnam Company NEW YORK, USA – Jan 20. It was announced today that Coastal Department Stores, Inc. will acquire The Putnam Company on 23 February 2012 for $10 billion, assuming an additional $2 billion of Putnam’s debt. Coastal plans to revamp present Jordan stores, creating a more contemporary, upscale look by bringing in more designer labels. This new alliance will see most Coastal stores converting to the Jordan name within a year. “Some of Coastal’s department stores have strong brand recognition and loyalty, so there’s a real concern about changing the name and helping customers see that the quality and service they’re used to won’t change.” Said David Morgan, spokesperson for Coastal. “In fact, it stands to improve with the strength of the Jordan’s name and brand.” Customers can expect a greater emphasis on clothing and fashion from not just in-store brands but designer labels such as Calvin Klein, Kenneth Cole, and Donna Karan. Coastal Department Stores, Inc. was formed in 1985 with the goal of meeting the needs of the average American family. To date, it remains a leading national retailer, operating four regional department store chains throughout the USA., mainly in the East and Midwest. For more information, visit www.coastalcares.com . ###
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News release announcing a company acquisition. Module: (Corporate Communication) Public Relations Writing
Transcript of News Release Acquisition
News Release
FOR IMMEDIATE RELEASE
January 20, 2012
Coastal Department Stores Inc. To Acquire The Putnam Company
NEW YORK, USA – Jan 20. It was announced today that Coastal Department Stores, Inc. will acquire
The Putnam Company on 23 February 2012 for $10 billion, assuming an additional $2 billion of
Putnam’s debt.
Coastal plans to revamp present Jordan stores, creating a more contemporary, upscale look by bringing
in more designer labels. This new alliance will see most Coastal stores converting to the Jordan name
within a year.
“Some of Coastal’s department stores have strong brand recognition and loyalty, so there’s a real
concern about changing the name and helping customers see that the quality and service they’re used to
won’t change.” Said David Morgan, spokesperson for Coastal. “In fact, it stands to improve with the
strength of the Jordan’s name and brand.”
Customers can expect a greater emphasis on clothing and fashion from not just in-store brands but
designer labels such as Calvin Klein, Kenneth Cole, and Donna Karan.
Coastal Department Stores, Inc. was formed in 1985 with the goal of meeting the needs of the average
American family. To date, it remains a leading national retailer, operating four regional department
store chains throughout the USA., mainly in the East and Midwest. For more information, visit
www.coastalcares.com.
###
From: Coastal Department Stores, Inc., 463 Ocean Avenue, CA. 90804.
Contact: Denise Tan, 91114742, [email protected].
Rachel Lok, 81682343, [email protected]
For: Rahita News Agency, 147 Scoop Drive, CA. 81647, 67253649, www.rna.com
Client contact: Rahita Elias, 96535798, [email protected]
