A.T. Cross Company, which includes the Cross and Schaeffer brands, is now under new ownership, having been purchased by private equity company Transon Capital Group LLC, Los Angeles.
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Posted 19 November 2017 - 03:12
This is quite sudden, considering that Sheaffer just kinda sorta started up again.
I will be going to L.A. in December...
Let's see what happens.
This may not be bad at all!
" H M M M . . . I l i k e s i t ! "
Posted 19 November 2017 - 04:00
Edited by Parker51, 19 November 2017 - 04:01.
Posted 19 November 2017 - 07:03
This is disappointing. Clarion has a portfolio of companies some of which are clearly in deluxe territory. Their silver tableware manufacturers include Gorham and a little pantheon of once-great American silver tableware brands. There is also Hartmann luggage. Putting Cross and Sheaffer in that context looked promising.
Transom, on the other hand, says on its Web site that its territory is the lower middle. That doesn't mean Cross and Sheaffer are going to disappear. It does suggest that recent results didn't persuade Clarion that A. T. Cross in its present form is right up there. So I wouldn't anticipate Cross boutiques just yet. Clarion evidently did not.
Posted 19 November 2017 - 07:50
I am cautiously optimistic because, they still have CEO Baird at the helm, who's vision has always been to eventually bring production back to Rhode Island (in his own words), and the 4 points he laid out sound compelling, especially the point about investing in additional resources and infrastructure. Will see how things unfold.
Baird also laid out four points that the acquisition will help grow: prioritizing sales activation by growing the Cross and Schaeffer brands across the globe, developing strategies to set brands and products apart from competition, creating demand worldwide, and investing in additional resources and infrastructure to improve operations.
Also tagged with one or more of these keywords: cross, ownership
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