ACCO Brands

ACCO Brands Corporation
Company typePublic
NYSE: ACCO
Russell 2000 Component
IndustryManufacturer
Founded1893; 131 years ago (1893) (as Clipper Manufacturing Company)
2005; 19 years ago (2005) (Merger with ACCO World and General Binding Corporation)
FounderFred J. Kline
Headquarters
Lake Zurich, Illinois
,
U.S.
Area served
Worldwide[a]
Key people
  • Boris Elisman (chairman,​ president, CEO)
  • Neal Fenwick (executive vice​ president, CFO)
  • Patrick Buchenroth
  • Cezary L. Monko
  • Thomas W. Tedford
ProductsOffice products
RevenueIncrease $ 2.059 billion (2021) [1]
Increase $ 176.0 million (2021)[1]
Increase $ 101.9 million (2021)[1]
Total assetsIncrease $ 3.091 billion (2021)[1]
Total equityIncrease $ 864.8 million (2021)[1]
Number of employees
6,000 (2021)[1]
SubsidiariesPowerA
Websitewww.accobrands.com

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

Notes

  1. ^ Except Africa and the Middle East.

References

  1. ^ a b c d e f "ACCO Income Statement Acco Brands Corporation Stock – Yahoo Finance". finance.yahoo.com. Retrieved 11 October 2022.
  2. ^ "About Us | Laptop Security | Docks & Locks | Ergonomics".
  3. ^ 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
  4. ^ "ACCO Rexel history". Archived from the original on 2013-03-26. Retrieved 2013-04-22.
  5. ^ "ACCO Hetzel products available online".
  6. ^ "ACCO Brands, Form 8-K, Current Report, Filing Date Jul 21, 2005". secdatabase.com. Retrieved Dec 29, 2012.
  7. ^ "ACCO Brands, Form 8-K, Current Report, Filing Date Jan 18, 2012". secdatabase.com. Retrieved Dec 30, 2012.
  8. ^ "ACCO Brands, Form 10-K, Annual Report, Filing Date Feb 23, 2012". secdatabase.com. Retrieved Dec 30, 2012.
  9. ^ "ACCO Brands Completes Acquisition Of Esselte Group Holdings AB". Seeking Alpha (Press release). 1 February 2017.
  10. ^ 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. Retrieved 29 June 2020.
  11. ^ "Comment from Elizabeth Bishop". Regulations.gov. 24 March 2020. Retrieved 29 June 2020.
  12. ^ "ACCO Brands Closes PowerA Acquisition". 17 December 2020.

External links