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Albany Firm Looks To Purchase Crane Stationery
Staff Reports ,
04:42AM / Friday, February 23, 2024
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COHOES, N.Y. — According to an article from the Times Union, WP Strategic Holdings is reported to be purchasing Crane Stationery company that was formerly located in North Adams.
The article, that was published Feb, 20. 2024, stated that the holding company's owner Todd Kletter told the Albany Business Review that "In principle, we have a deal," in regard to the purchase.
The article continued that WP Strategic Holdings already listed Crane as one of its properties on its website, and Kletter told the Albany Business Review that he hoped to have Crane in operation this week.
He expects to close on the deal within 30 to 45 days.
Earlier this month, the Albany Business Review reported that the 220 year old stationery company was being acquired by international Fedrigoni Group and employees at Crane were laid off. They confirmed that 75 people in the Crane unit were notified that they were laid off "effective immediately."
Mohawk Fine Papers purchased Crane Stationery in 2018 The New York company closed the North Adams, Mass., plant in 2020 and laid off nearly 200 employees. 
A number of them were offered jobs in Cohoes, where the printing of Crane was to continue, and remotely.
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