Tipp City, OH–Dave Grim, president of Tipp City, OH-based Spring Hill Nurseries, a subsidiary of troubled multititle mailer Foster & Gallagher (F&G), resigned June 19 from the company started by his family more than 150 years ago. F&G spokesperson Lisa Hahn says Grim’s decision was “self-initiated” and that he was leaving “to pursue other business opportunities.” F&G bought Spring Hill, which was established in 1849, from the Grim family in 1977.
The Grim announcement comes less than a week after the June 13 resignation of F&G CEO Bob Ostertag and less than two weeks following the sale of F&G’s children’s division to 1-800-Flowers.com.
F&G’s sales have fallen from a high of $476 million in 1997 to $337 million last year, according to the spring edition of an F&G employee newsletter obtained by CATALOG AGE. The company’s last profitable year was ’98, when it had earnings of $1.6 million. For 2000, it posted a loss of $7.7 million. F&G’s catalogs include gifts book Walter Drake, which is up for sale, and gardening titles Michigan Bulb Co., Stark Bros. and Breck’s.