Franklin Mint sold to private investors

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! PHILADELPHIA – The Franklin Mint, once the world’s largest maker of collectibles, was sold to private investors for an undisclosed price. The group led by executives from The Morgan Mint, based in Hicksville, N.Y., made the purchase in August and announced it on Tuesday. Founded in 1964 by Joseph Segel, who also started QVC Inc., The Franklin Mint is known for its detailed figures and other products featuring celebrities such as Elvis, Princess Diana and Marilyn Monroe. M. Moshe Malamud and Steven Sisskind, chairman and chief executive, respectively, of coin and stamp marketing company The Morgan Mint, will hold the same positions at the Franklin Mint. “The Franklin Mint is the crown jewel of our industry,” Malamud said in an interview. “It’s a great opportunity to take this brand from its current status and build it up to the great name that it once was and even beyond that.” Malamud said his group reached an agreement with the previous owners, privately held Roll International Corp. in Los Angeles, last year. The sale closed on Aug. 31. Franklin Mint’s current headquarters west of Philadelphia will move to an as yet undecided location, Malamud said. Company officials declined to say how many people work at the Franklin Mint. In 2003, it laid off 200 workers, leaving it with about 100 employees.center_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe joys and headaches of holiday travel: John Phillipslast_img

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