Lifetime Brands said the deal creates a ‘premier consumer goods company’ with over $750 million in net sales.
As announced on December 26 2017 (https://housewareslive.net/lifetime-brands-to-acquire-filament-brands/), as a result of completing the transaction, Lifetime will be led by Robert Kay (formerly chairman and chief executive officer of Filament Brands) as ceo.
Jeffrey Siegel, formerly chairman and chief executive officer of Lifetime Brands, will become executive chairman of the company.
Ronald Shiftan will continue as vice chairman and chief operating officer and Daniel Siegel will continue as president of Lifetime. Tim Simmone, formerly chief operating officer of Filament, will become chief integration officer.
Additionally, the Lifetime Brands board of directors will expand to include Mr. Kay, Bruce G. Pollack and Michael P. Schnabel. Bruce G. Pollack and Schnabel are, respectively, managing partner and managing director of Centre Partners Management.
Jeffrey Siegel said: “We are excited to complete this transformational transaction, which creates a company with the number one position in key product areas, a diversified customer base and a robust product development team and pipeline.”
Robert Kay said: “Lifetime Brands is well-positioned with the scale and capabilities to bring even more great ideas to market and continue to drive significant value creation over the long term.
“I look forward to leading the newly combined team as we continue to invest in our world-class brands and grow the business.”
Lifetime Brands will continue to be headquartered in New York, with a significant presence in Seattle, and will maintain its regional facilities around the world.
Lifetime Brands markets its products under:
*Kitchenware brands including Farberware, KitchenAid, Sabatier, Amco Houseworks, Chef’n, Chicago Metallic, Copco, Fred & Friends, Houdini, KitchenCraft, Kamenstein, Kizmos, La Cafetière, MasterClass, Misto, Mossy Oak, Swing-A-Way, Taylor Kitchen and Vasconia;
*Tableware and giftware brands including Mikasa, Pfaltzgraff, Fitz and Floyd, Creative Tops, Empire Silver, Gorham, International Silver, Kirk Stieff, Rabbit, Towle Silversmiths, Tuttle, Wallace, Wilton Armetale, V&A and Royal Botanic Gardens Kew;
*Home solutions brands including Bombay, BUILT NY, Taylor Bath and Taylor Weather.
The company also provides exclusive private label products to retailers worldwide.