March 12, 2006

By: Abu Soomo
Website: http://www.1st-in-sunglasses.com

A.T. CROSS Company Acquires Polarized Sunglasses Company Costa Del Mar

A.T. Cross Company, today announced it has completed the acquisition of Costa Del Mar Sunglasses, Inc., a designer, manufacturer and wholesaler of high quality, high-performance polarized sunglasses. The acquisition provides A.T. Cross entry into the premium eyewear category and furthers the Company's strategy of developing a market-leading portfolio of distinctive branded personal and business accessories. Financial terms of the transaction were not disclosed.

Founded in Florida in 1983, privately-held Costa Del Mar has developed a superior reputation for its advanced polarized lens technology and fashionable, yet functional, frame design. The Costa Del Mar brand is currently sold at specialty sporting goods stores and eyeglass stores throughout the United States at price points in the $109 to $299 range.

Costa Del Mar has generated solid top line growth since its inception, most recently achieving $11.4 million of net sales for 2002. A.T. Cross will continue to sell the product under the Costa Del Mar brand name, and the acquisition is expected to be accretive to earnings in the first year of operations.

David G. Whalen, President and Chief Executive Officer of A.T. Cross commented, This acquisition fits squarely into our strategy to become a leading designer and marketer of branded personal and business accessories. Our customers, who trust and demand Cross' service and quality, look to us to provide a variety of products that are functional, yet allow for individual expression. Costa Del Mar, with its terrific frame designs and unsurpassed polarized lens performance, enhances the ways in which we serve our existing consumers and expands our reach to a broader and more diversified base.

Effective immediately, Costa Del Mar will operate as a new division of A.T. Cross under the leadership of Charles R. MacDonald, who, as separately announced today, was appointed President of Costa Del Mar and Vice President of A.T. Cross' Optical Division. Effective immediately, the Costa Del Mar team will operate under Mr. MacDonald's leadership. Raymond Ferguson, founder of Costa Del Mar, will remain with the Company through a transitional period.

Mr. Ferguson said, This is a great transaction for both companies. A.T. Cross will provide a solid platform to raise the visibility and distribution of the Costa Del Mar brand. In addition, several members of Cross' senior management team have prior experience, across many disciplines, in the sunglass category. This expertise, combined with our shared vision of providing consumers products that combine innovative design and ultimate performance with guaranteed craftsmanship, makes Costa Del Mar a logical addition to Cross' portfolio of high-quality personal accessories. I feel extremely comfortable that our brand will continue to flourish under Cross' leadership.

Mr. Whalen concluded, The team at Costa Del Mar has done an outstanding job creating a dynamic, entrepreneurial company with a reputation for quality, craftsmanship and innovation. We intend to provide the resources to maximize the growth potential of the Costa Del Mar brand by layering their products into our extensive global distribution network and providing additional design, marketing and product development expertise. We welcome the Costa Del Mar team and look forward to a strong future together.

About The Author:

Abu Soomo is a successful author and regular contributor to http://www.1st-in-sunglasses.com.  Helping you find great deals on discount designer sunglasses.