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#1 david i

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Posted 22 August 2014 - 01:04 AM

webcache.googleusercontent.com/search?q=cache:N0RiuUkXk_IJ:www.opi.net/financial/mergers-acquisitions/bic-to-sell-sheaffer+&cd=1&hl=en&ct=clnk&gl=us&client=ms-opera-mobile

 

 

Andy Braithwaite , 21 August 2014
 

BIC has announced it is selling its Sheaffer brand to upmarket stationery and accessories company AT Cross.

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The France-based stationery giant said it was offloading its Sheaffer fine writing unit, which it acquired in 1997, to AT Cross for about $15 million, with the transaction expected to close in October.

 

The Sheaffer deal is the first major acquisition by AT Cross since the company (minus its sunglasses division) was bought by private equity firm Clarion Capital Partners last September.

 

Thoughts?

 

-david


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#2 Procyon

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Posted 22 August 2014 - 01:12 AM

Offhand, I would think that is good news.  Cross should have more sympathy for marketing high end pens, I would guess (well, hope, actually). ;)



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#3 Hugh

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Posted 22 August 2014 - 10:54 AM

Given the way Sheaffer has gone lately it has to be an improvement.


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#4 Greg Proctor

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Posted 22 August 2014 - 02:10 PM

I'll reserve judgement on the sale until I see what Cross does with the brand. I have a few modern high end Cross fountain pens (mostly gotten as gifts) and find that, while the workmanship is fine the writing experience just isn't that good. Maybe they're just too big and heavy for my likes but as I mostly write with vintage pens, perhaps it's moot point for me. ;)



#5 Mike Hosea

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Posted 22 August 2014 - 07:22 PM

I feel pretty much the same.  On the one hand, I like that Cross is in better position to understand the fine writing business, and fountain pens in particular, but on the other, Cross pens tend to be of a certain metal or enamel-on-metal style that I don't favor (anymore), so it will be interesting to see where they take the Sheaffer brand design-wise.  



#6 vintage penman

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Posted 22 August 2014 - 10:37 PM

Anything is likely to be better than Bic. I suspect that cross will want to keep the Cross brand as the top line product with Sheaffer a notch below ?



#7 david i

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Posted 22 August 2014 - 11:34 PM

Anything is likely to be better than Bic. I suspect that cross will want to keep the Cross brand as the top line product with Sheaffer a notch below ?

 

I  hope not.  Sheaffer historically to me seems to have filled a more lofty niche. Time will tell of course.

 

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Email: isaacson@frontiernet.net

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#8 jonro

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Posted 24 August 2014 - 03:36 PM

When I saw the selling price of $15 M, I was surprised at how low Sheaffer's worth has fallen. It will be interesting to see if Cross has any specific plans for it, or if they will continue with more of the same..



#9 Frank(Federalist Pens)

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Posted 24 August 2014 - 10:51 PM

should be interesting indeed!

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#10 welch

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Posted 25 August 2014 - 04:41 AM

When I saw the selling price of $15 M, I was surprised at how low Sheaffer's worth has fallen. It will be interesting to see if Cross has any specific plans for it, or if they will continue with more of the same..

 

- Two years ago, the Browns (Art Browns Pens) had heard that BiC wanted to sell Sheaffer. Believed that Bic didn't know what to do with them. This fits.

 

- Selling price tells us what a founain pen company is worth now. Not big business, sadly. Back in '09, I thought some smart people should get a Federal loan to free Sheaffer from BiC. Maybe this will be just as good.



#11 jonro

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Posted 26 August 2014 - 07:55 PM

It's not just a fountain pen company; it's a pen company that also makes fountain pens. It seems to me, this indicates that pen companies, with a few exceptions, don't have much cachet. It certainly isn't seen as a growth market. It's unfortunate, but not surprising. I often see wealthy people using disposable pens, probably because they no longer view pens as a status symbol. Perhaps this will change when more technology is incorporated into pens.






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