Saturday, Jul 02, 2016
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Longaberger owner to cede control of firm

NEWARK, Ohio — A Dallas company plans to acquire a controlling stake in Longaberger Co., its owner said.

Tami Longaberger, president and CEO of the basket maker in Newark, told employees she intends to transfer her majority share of the company’s stock to Computer Vision Systems Laboratories Corp., or CVSL. The terms of the deal will be negotiated in the coming weeks, she said.

Longaberger has $100 million in annual sales, according to the trade publication Direct Selling News, and fewer than 1,000 employees.

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