Pacon Corp., a manufacturer, converter and supplier of paper products, art and craft products and educational materials headquartered in Grand Chute, has been sold to an international supplier of art materials and related products.
F.I.L.A. (Fabbrica Italiana Lapis ed Affini S.p.A) said Friday it purchased Pacon for $340 million.
Pacon was founded in 1951 by Jerry Van Hoof. Since 2011, the once family-owned company has been owned by Mason Wells, a Milwaukee-based private equity firm.
Pacon employs 400 workers at its seven Grand Chute and Neenah facilities and another 100 at locations in Canada and the United Kingdom. F.I.L.A. indicated they plan to retain all employees.
Current Pacon President and CEO Jim Schmitz will lead all North American F.I.L.A. businesses.
“The partnership of the Pacon team with Mason Wells over the past several years clearly raised the business to a new level,” he said in a statement. “Through the development and execution of a refined long-term marketing and growth strategy, in combination with five strategic acquisitions that included expansions into new markets and adjacent product categories, the company is well positioned for continued success in the future.”
F.I.L.A. brands include Dixon Ticonderoga, Prang, Canson and Daler-Rowney while Pacon’s brands are Pacon, Strathmore Artist Papers and Princeton Artist Brush Co.