A.T. Cross, part of Clarion Capital Partners’ portfolio of companies, has acquired the Sheaffer pen line from BIC. The $15 million transaction is expected to be complete by the end of October.
Clarion acquired A.T. Cross in 2013 and participates in the promotional products industry under the Cross, Lamy and Franklin Covey brands. BIC has owned the Sheaffer brand since 1997.
As part of A.T. Cross, Sheaffer will continue as a stand-alone brand in both the retail and promotional products markets, with some its personnel making the transition as well. Andy Boss, national sales manager, corporate writing solutions, with A.T. Cross, says, “A. T. Cross will be analyzing the Sheaffer product line over the coming months once the sale is complete. At that point, our engineers and product marketing teams will be able to provide more information to distributors on any changes to the product or line.”