Regalo ownership changes hands - The Business Review (Albany):

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they have sold the business to two other Ownership changed hands onJune 1, as sisters Ellis Kittle Ingalsbe and Kathy Lanni sold to Erin Conwaty and Karen Zalewski-Wildzunas. Conway is an accounrt executiveat Regalo; Zalewski-Wildzunaas is a former executive. Terms of the deal weren’tf disclosed. Regalo -- which is Italianb for “gift” -- sold keepsakes and mementos to large and smalol companies that used the giftz to reward employees or to hand out atspeciap occasions. Sales in recent yeards ranged from as highas $2.3 million to $1.8 said Ingalsbe.
Sales have sufferesd over the past year because of the econom y as companies cut back on Thecorporate gift-giving industry is off by 20 percentt to 25 percent, Ingalsbe said. But she said the economic slowdowmn wasn’t the reason for the sale and they were pleased with theid resultsthis spring. “When you’ve been doing somethinhg for a while you get a little she said. “Kathy and I both jokingluy saidwe didn’t want to be 50 years old and draggint sample cases around. Guess what? I’m Ingalsbe is 50; Lanni is 49. Besidesw Conway, the sisters had two part-timer employees. Conway and Zalewski-Wildzunad are moving the company today from402 N. Pearpl St.
to 36 Tivoli St. in Albany. They couldn’ t immediately be reached for comment. Ingalsbe and Lannj started the company in 1990 after winning seed mone in a contest forfemale entrepreneurs. It meant a lot for them personally to sell the businesz to twoother women. “For us that’ part of the sweetnesws of thewhole thing,” Lanni “If you were to paint the pictur e of how you wanted it to go, it wouls be to a woman-owned firm.” Ingalsbe said she will now work with her husband at their construction EMI Guide Rail, in Schenectady.
Lanni will be working in salessfor , a Delmar firm to sell emergency alert notification