Three manufacturers of products for artists, architects and engineers were acquired recently to form Irvine-based CPG Int.
CPG bought Chartpak/Pickett Industries, Plan Hold Corp. and M. Grumbacher in June from Times Mirror Co. with the goal of bringing together related, but noncompetitive, products. Official announcement of the sale was made Monday.
Chartpak produces materials primarily for commercial artists, architects and draftsmen; Grumbacher concentrates on the fine arts field, while Plan Hold manufactures art and drafting files and furniture. CPG paid $55 million for the three companies.
John Zaepfel, CPG president and chief executive said each company will continue to operate autonomously but will share knowledge to strengthen one another's market position. Zaepfel said the companies "provide an excellent base from which we will build a major factor in the graphic arts field."