Changes in Ownership and Current Status
In 1980, Warner Communications (now part of Time Warner) purchased The Franklin Mint for about $225 million. The combination was short lived: Warner sold The Franklin Mint in 1985 to American Protection Industries Inc. (API) for $167.5 million. However, Warner retained Eastern Mountain Sports, a retailer that The Franklin Mint had acquired in the 1970s, as well as The Franklin Mint Center, which it leased back to API. API was renamed Roll International in 1993. During the early 2000s, Roll International wound down much of the Franklin Mint business. On August 31, 2006, Roll International Corp sold the remaining assets of The Franklin Mint to a group including a private equity investor and The Morgan Mint.
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