Pacon Corporation Acquires CPP International’s Art & Craft Division
Appleton WI, October 30 2017
Pacon Corporation, a leading global supplier of education, art, and craft products, announced today that it acquired the assets of CPP International, LLC’s Art and Craft division. Under the terms of the agreement, Pacon acquired CPP’s art and craft product inventory and trademarks.
CPP (Carolina Pad and Paper) serves the retail market with a variety of art and craft products under the popular Ghostline® and UCreate™ brands, including construction paper, art pads, and poster board.
With this acquisition, Pacon now offers customers an even more extensive line of art and craft products, strengthening its ability to be a single-source supplier for educational aids, paper products, and art and craft materials.
“We are excited to expand our art and craft category through this acquisition,” said Jim Schmitz, President and Chief Executive Officer of Pacon Corporation. “The addition of Ghostline® and UCreate™ products supports our mission to engage, inspire, and empower teachers, students, and artists to be their best by providing them superior educational and art products. CPP has many loyal customers. The entire Pacon team is determined to deliver excellent customer service and exceptional product quality to ensure we earn and sustain their trust.”
“Mason Wells was pleased to support the Pacon management team in its acquisition of CPP’s art and craft division,” said Chris Pummill, a Director at Mason Wells. He added, “The acquisition enhances Pacon’s market reach and product line. It is yet another example of management’s ability to identify, acquire, and integrate complementary businesses.”
CPP’s art and craft business will be moved to Pacon’s facilities in Appleton, Wisconsin. Financial details of the transaction were not disclosed.
Debt financing for the transaction was provided by members of Pacon’s existing lender group, which is led by U.S. Bank. Quarles & Brady LLP served as legal counsel to Pacon Corporation.
Mason Wells is a leading Midwest-based private equity firm with approximately $1.0 billion in assets under management across its current private equity funds. Mason Wells is currently investing out of Mason Wells Buyout Fund IV, a $615 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Consumer Packaged Goods, Outsourced Business Services, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.
Pacon, a Mason Wells Buyout Fund III portfolio company, provides a wide range of educational aids, paper products, and art and craft materials. Since 1951, teachers, students, parents, and artists have relied on Pacon products to help them teach, learn, and create. From children’s art and craft materials to fine art papers, Pacon is committed to offering innovative products to enable and inspire teachers, students, and artists to be their best. For more information relating to Pacon, please visit www.pacon.com and www.strathmoreartist.com.