The announced today that it has agreed to acquire the Group of a purchase rice of approximately $550 million in cash. Subject to regulatory approval, the acquisition is expected to close in the fourth quarter of. Upon completion, will become a wholly owned subsidiary of. is a leading producer and marketer of dated and time management products. The addition of , which produces, manufactures and markets wire-bound diaries and appointment books, desk and wall calendars, posters, organizers, planners and related accessories, represents another erasablewallcalendars step in stated strategy of growing the company''s core businesses of coated and specialty papers, packaging and paperboard, and school and office products. erasablewallcalendars Headquartered in the Group of annual sales of approximately $325 million and earnings before interest, taxes, depreciation and amortization of approximately $70 million in the fiscal year ended. The company''s sales have doubled over the past four years, primarily as a result of product development and strategic acquisitions.

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