Key Developments For Career Education Corp
Career Education Corp (CECO.O) (Nasdaq)
Career Education Corp. Completes Purchase of Le Cordon Bleu Brand Rights for Culinary Education Programs
Career Education Corp. announced that it has completed the purchase of the outright rights to the Le Cordon Bleu brand in the education services field for the U.S. and Canada. As a part of the transaction the Company has also acquired the right of first refusal to purchase all non-acquired brand rights and operations of Le Cordon Bleu International (LCBI) in the event LCBI proposes to sell such rights and operations.
Career Education Corp. Announces Purchase of Le Cordon Bleu Brand Rights For Culinary Education Programs
Career Education Corp. announced that it has agreed to acquire the outright rights to the Le Cordon Bleu brand in the education services field for the U.S. and Canada and to terminate its current licensing agreement which expires on December 31, 2013. As a part of the transaction the Company has also acquired the right of first refusal to purchase all non acquired brand rights and operations of Le Cordon Bleu International (LCBI) in the event LCBI proposes to sell such rights and operations. The acquisition anticipated to close during the third quarter. Terms of the deal were not disclosed.
Career Education Corp. Announces Realignment of Admissions Support And Marketing Functions
Career Education Corp. announced a realignment of its admissions support and marketing functions to position admissions teams closer to the businesses they support and to accelerate and add consistency to the Company's brand development activities. The changes include a shift of admissions support from the Company's corporate marketing group to its Strategic Business Units (SBUs), including its University SBU, and consolidating brand related marketing activities with other corporate shared services.
Career Education Corp. Announces Renewal of Le Cordon Bleu Licensing Agreement
Career Education Corp. announced that it has extended its licensing arrangement with Le Cordon Bleu International (LCBI) for an additional five year period beginning January 1, 2009 through December 31, 2013. CEC entered into its first agreement with LCBI almost a decade ago, in which it obtained the exclusive license to utilize the Le Cordon Bleu trade name and programs for CEC's culinary schools in North America (Le Cordon Bleu Schools North America).
Career Education Corp. Announces Sale Of International Academy Of Design In Toronto
Career Education Corp. announced that it has sold the Toronto campus of the International Academy of Design and Technology to RCC Institute of Technology (RCC), a division of Yorkville University (NB). RCC has been operating technology related programs in Ontario since 1928 and is authorized by the Province of Ontario to award diplomas as well as bachelor's degrees in various aspects of technology.
