Clarion Capital Completes Acquisition of Cross
Sold For $60 Million
Clarion Capital Partners LLC announced it has completed its acquisition of the Cross brand of writing instruments and accessories, formerly owned by A.T. Cross (asi/47520). The private equity firm originally agreed to purchase the brand in July for a cash price of $60 million. A.T. Cross had announced last February that it was exploring strategic alternatives for its Cross Accessory Division.
"This is the beginning of an immensely exciting new phase in the brand's long history," said Mark R. Ivory, vice president of global sales for Cross. "Our plans will set the Cross brand apart from its competition, by delivering elegant accessories that allow new generations of consumers to experience an unparalleled writing experience while complementing their modern lifestyle."
The A.T. Cross name will be kept by Clarion, as will all existing Cross offices, facilities and personnel. "The tremendous asset of our employee expertise and global supply infrastructure will be the platform on which our future sales growth is founded," said Ivory.