A. Lee Graham
Tandy Leather Factory Inc. of Fort Worth has increased its board positions from nine to 10, with its board of trustees naming Jefferson Gramm to fill the new seat effective Tuesday Feb. 11.
Gramm is a portfolio manager at Bandera Partners LLC, which manages Bandera Master Fund LP, an investment fund that owns about 28 percent of Tandy Leather Factory’s shares.
“We are pleased to welcome Jeff to our board and look forward to benefiting from his expertise,” said Joe Mannes, board chairman, in a news release.
“Further, we believe that input from a representative of the company’s largest stockholder, who shares our long-term commitment to our company, will continue our efforts to maximize stockholder value,” Mannes said.
Gramm previously served as managing director of Arklow Capital, LLC, a hedge fund manager focused on distressed and value investments. He has been a director of Morgan’s Foods Inc. since April 12, 2013 and served as a director of Peerless Systems Corp. from June 2009 to November 2010.
Tandy Leather Factory Inc. is a specialty retailer and wholesale distributor of leather, leatherworking tools, buckles and do-it-yourself kits, among other items. The company distributes its products through its 29 Leather Factory stores in 19 states and 3 Canadian provinces; 79 Tandy Leather retail stores, located in 36 states and 6 Canadian provinces; and three combination wholesale-retail stores located in the United Kingdom, Australia, and Spain.
More information is available at www.tandyleatherfactory.com.