LINCOLN, R.I. -- Long-established Rhode Island consumer products company A.T. Cross Co. in Lincoln announced Wednesday that it will operate under a new name -- Costa Inc.
The change comes just weeks after the company sold off its signature pen operation -- run as part of the Cross Accessory Division. A newly formed affiliate of Clarion Capital Partners purchased the whole Cross division for $60 million in cash.
The accessory division comprises pens and related products.
At the time of that sale, Cross said it will focus resources on the continued expansion of its Cross Optical Group. Company officials apparently decided a new name should accompany that new focus.
"We are excited about our new direction," said David G. Whalen, chief executive officer of the renamed company. "Changing our name to Costa Inc. aligns the corporation's identity with our largest brand."
The company will focus on sales of its sports sunglasses. While the company dropped the A.T. Cross name it retained its ticker symbol. Costa will trade on the Nasdaq exchange under the symbol ATX .