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Costa Inc. to be Acquired by Essilor International

Costa Inc. to be Acquired by Essilor International

LINCOLN, R.I., Nov. 8, 2013 (GLOBE NEWSWIRE) -- Costa Inc. (Nasdaq:ATX) today
announced an agreement whereby Essilor International will acquire all
outstanding shares of the company for $21.50 per share. This corresponds to an
enterprise value of approximately $270 million. The all-cash offer represents
a 19% premium on the volume weighted average share price over the past six
months and approximately 2.8x the last twelve month's revenue from continuing
operations. The merger agreement provides that Costa Inc. may consider
superior proposals from other interested parties. Previously known as A.T.
Cross, Costa Inc. designs, assembles and markets sunglasses under the Costa^®
and Native^® eyewear brands.

Introduced in 1983, when a few fishermen decided the world needed better
sunglasses, Costa has become a leader in the performance sunglass market. As a
premiere manufacturer of superior polarized performance sunglasses, Costa is
best known for its patented 580 lens technology, which offers color
enhancement and increased visual acuity. Still handcrafted today in Florida,
Costa's unparalleled fit and durability, backed by a lifetime warranty, have
made them a leading choice of serious water sports enthusiasts.

Costa is also known for its commitment to protecting the world's waters and
works with conservation partners around the world to help increase awareness
and influence policy so that both the fish and fishermen of tomorrow will have
healthy waters to enjoy.

Commenting on the agreement, David G. Whalen, Chief Executive Officer of Costa
Inc. said, "When viewed in comparison with comparable transactions we believe
that this transaction represents significant value to our shareholders." Mr.
Whalen continued, "We are delighted to be joining forces with the world leader
in optics. Over the past decade, as the terrific Costa management team has
worked to make customers and consumers more aware of the features and benefits
offered by the Costa brand, our business has grown rapidly. As a member of the
Essilor family, we will have access to a deep pool of world class resources
including technology and distribution that will drive our continued growth
both in the United States and the global marketplace."

Under the terms of the merger agreement, certain Costa shareholders owning in
the aggregate approximately 34% of the outstanding common shares of Costa have
agreed to vote in favor of the transaction at a forthcoming special meeting to
be called to approve it, subject to certain conditions. Additionally, a
termination fee of approximately $8.9 million is payable, under certain
circumstances, by Costa Inc. to Essilor in the event a superior, unsolicited
offer is accepted by Costa Inc.

The transaction is expected to close in early 2014, subject to necessary
regulatory approvals and clearances, approval by the Costa shareholders, and
certain other conditions. The transaction is not subject to any financing
contingency and it will be financed out of Essilor's cash reserves.

D.A. Davidson & Co. is serving as Costa Inc.'s financial advisor and Weil,
Gotshal & Manges LLP is acting as Costa Inc.'s legal counsel.

About Costa Inc.

Costa Inc. owns and manages the Costa and Native Eyewear brands.Known best
for its premium sport sunglasses tailored to those sports enthusiasts who play
on the water, the Costa Brand is rapidly expanding into prescription
sunglasses and sports apparel.Likewise, the Native Eyewear brand is becoming
the brand of choice for mountain locals and those who aspire to the mountain
way of life.Costa Inc. is the successor company of A.T. Cross.For more
information, visit the Costa Inc. website at www.costabrands.com.

Additional Information and Where to Find It

Costa Inc. will file with the Securities and Exchange Commission (the "SEC") a
current report on Form 8-K, which will include the merger agreement related to
the proposed merger. The proxy statement that Costa Inc. plans to file with
the SEC and mail to shareholders will contain information about CostaInc.,
the proposed merger and related matters. SHAREHOLDERS ARE URGED TO READ THE
PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABLE, AS IT WILL CONTAIN IMPORTANT
INFORMATION THAT SHAREHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT
THE PROPOSED MERGER. In addition to receiving the proxy statement from Costa
Inc. by mail, shareholders will be able to obtain the proxy statement, as well
as other filings containing information about Costa Inc., without charge, from
the SEC's website at www.sec.gov or, without charge, from CostaInc. at its
website (www.costabrands.com). This announcement is not a solicitation of a
proxy.

Costa Inc. and its directors and executive officers and certain other members
of management may be deemed to be participants in the solicitation of proxies
in connection with the proposed merger. Information concerning such
participants is set forth in the proxy statement for Costa Inc.'s 2013 annual
meeting of shareholders, which was filed with the SEC on Schedule 14A on March
27, 2013. Additional information regarding the interests of such participants
in the solicitation of proxies in connection with the proposed merger will be
included in the proxy statement to be filed by Costa Inc. with the SEC.
CostaInc.'s press releases and other information about Costa Inc. are
available at Costa Inc.'s website at www.costabrands.com.

Forward-Looking Statements

Statements in this press release that are not statements of historical fact or
that express our confidence, expectations, objectives, intentions, plans, or
strategies or that are about the merger, or otherwise anticipate the future,
are forward-looking statements. These forward-looking statements are not
guarantees of future performance, and they are subject to risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. Forward-looking statements
contained in this press release speak only as of the date hereof. We undertake
no obligation to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.

CONTACT: Company Contact:
         Kevin F. Mahoney
         Senior Vice President, Finance and
         Chief Financial Officer
         401-335-3918
        
         Investor Relations:
         Dave Mossberg
         Three Part Advisors, LLC
         817-310-0051

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