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Playing Card Giant Sold

NEW YORK – As reported by the New York Times: "…The maker of playing card brands like Bicycle and Hoyle is being sold to the Jarden Corp., a conglomerate of niche businesses, for $232 million. The business, the United States Playing Card Co., is the largest playing card company in the world, making cards also under the brands of Bee and Avitar.

"…The deal announced Thursday is the latest in a string of acquisitions by Jarden, a publicly traded company worth nearly $1 billion.

"…Martin E. Franklin, the chief executive of Jarden, said the strategy holding his far-flung empire of all things mundane together was his interest in buying companies that have high cash flow and dominate their markets.

"…Martin Franklin said he was hoping to take advantage of the renewed interest in poker driven in part by television shows like Bravo's 'Celebrity Poker Showdown' and expand the business in Europe and Asia…"

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