Company:ACCO Brands
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| Type | Public |
|---|---|
| NYSE: ACCO Russell 2000 Component | |
| Industry | Manufacturer |
| Founded | 1893 (as Clipper Manufacturing Company) 2005 (Merger with ACCO World and General Binding Corporation) |
| Founder | Fred J. Kline |
| Headquarters | Lake Zurich, Illinois , U.S. |
Area served | Worldwide[lower-alpha 1] |
Key people |
|
| Products | Office products |
| Revenue |  $ 2.059 billion (2021)
[1] |
| $ 176.0 million (2021)[1] | |
| $ 101.9 million (2021)[1] | |
| Total assets | $ 3.091 billion (2021)[1] |
| Total equity | $ 864.8 million (2021)[1] |
Number of employees | 6,000 (2021)[1] |
| Subsidiaries | PowerA |
| Website | www |
ACCO Brands Corporation is an American multinational company and is one of the world's largest designers, manufacturers, and marketers of premium business, technology, academic, and consumer products. [2] It was created by the merger of ACCO World from Fortune Brands with General Binding Corporation (GBC).[3]
History
In 1903, Fred J. Kline founded the Clipper Manufacturing Company (a maker of paper clips) in Long Island, New York. In 1910, the company became the American Clip Company, and first used the name "ACCO" as an initialism, which became the company's formal name in 1922. After many acquisitions, ACCO went public in 1983, and was acquired in 1987 by American Brands (later Fortune Brands).
In 1990, ACCO acquired Hetzel in Germany,[4] a company selling stationery products.[5] In 1992, ACCO UK was created from the integration of ACCO Europe and Rexel Ltd. ACCO UK is the UK's largest manufacturer of office products.[citation needed] In 2005, ACCO was spun off from Fortune Brands and, through the merger with the General Binding Corporation, ACCO Brands was formed.[6]
In 2012, ACCO Brands completed a $860 million deal to combine with MeadWestvaco’s Consumer and Office Products business.[7] The transaction added brands like Mead, Five Star, Trapper Keeper, AT-A-GLANCE, Cambridge, Day Runner, Hilroy, Tilibra and Grafons to ACCO Brands' product line.[8]
ACCO acquired Esselte Group Holdings in 2017.[9]
In March 2020, the company asked for Section 301 tariff relief for their Kensington laptop docking stations, which had 25% tariffs due to Trump's 2018 China–United States trade war. The company's relief application said sales had increased 200% and they were needed for healthcare workers.[10][11]
ACCO acquired video game peripheral manufacturer PowerA in 2020.[12]
See also
- Advanced Gravis Computer Technology
- Derwent Cumberland Pencil Company
- General Binding Corporation
- Kensington Security Slot
- Swingline
Notes
- ↑ Except Africa and the Middle East.
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "ACCO Income Statement Acco Brands Corporation Stock – Yahoo Finance". https://finance.yahoo.com/quote/ACCO/financials?p=ACCO.
- ↑ "About Us | Laptop Security | Docks & Locks | Ergonomics". https://www.kensington.com/about-us/.
- ↑ Fortune Brands and General Binding Corporation announce further progress toward creation of ACCO Brands Corporation Joint press release of Fortune Brands and GBC dated July 19, 2005
- ↑ "ACCO Rexel history". http://www.paper-shredders.org.uk/Acco_Rexel.html.
- ↑ "ACCO Hetzel products available online". http://www.conrad.com/ce/en/brand/ACCO-HETZEL.
- ↑ "ACCO Brands, Form 8-K, Current Report, Filing Date Jul 21, 2005". secdatabase.com. http://edgar.secdatabase.com/2/119312505145588/filing-main.htm.
- ↑ "ACCO Brands, Form 8-K, Current Report, Filing Date Jan 18, 2012". secdatabase.com. http://edgar.secdatabase.com/1448/119312512014744/filing-main.htm.
- ↑ "ACCO Brands, Form 10-K, Annual Report, Filing Date Feb 23, 2012". secdatabase.com. http://edgar.secdatabase.com/2246/119312512075522/filing-main.htm.
- ↑ "ACCO Brands Completes Acquisition Of Esselte Group Holdings AB". Seeking Alpha (Press release). 1 February 2017.
- ↑ Lydia DePillis (25 June 2020). "Oyster, Air Fryer and Bicycle Companies Say Their Goods Are Essential to Fighting Coronavirus So They Can Get Tariff Relief". ProPublica. https://www.propublica.org/article/oyster-air-fryer-and-bicycle-companies-say-their-goods-are-essential-to-fighting-coronavirus-so-they-can-get-tariff-relief.
- ↑ "Comment from Elizabeth Bishop". Regulations.gov. 24 March 2020. https://www.regulations.gov/document?D=USTR-2020-0014-0453.
- ↑ "ACCO Brands Closes PowerA Acquisition". 17 December 2020. https://www.businesswire.com/news/home/20201217006069/en/ACCO-Brands-Closes-PowerA-Acquisition.
External links
- Business data for ACCO Brands:
- ACCO Brands home.
- Official Rexel Website
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