GARDEN CITY, N.Y.--(BUSINESS WIRE)--Lifetime Brands, Inc. (NasdaqGS:LCUT), a leading global provider of branded kitchenware, tableware and other products used in the home, today announced that it has completed its previously announced acquisition of Filament Brands, creating a premier consumer goods company with over $750 million in net sales and an unparalleled portfolio of powerful brands and iconic licenses.
As previously announced, effective today as a result of completing the transaction, Lifetime will be led by Robert Kay, formerly Chairman and Chief Executive Officer of Filament, as CEO and Jeffrey Siegel, formerly Chairman and Chief Executive Officer of Lifetime, as Executive Chairman. 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. Messrs. Pollack and Schnabel are, respectively, Managing Partner and Managing Director of Centre Partners Management, LLC.
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 with marquee partnerships 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 will continue to be headquartered in Garden City, New York, with a significant presence in Seattle, Washington, and will maintain its regional facilities around the world.
Lifetime Brands, Inc.
Lifetime Brands is a leading global provider of kitchenware, tableware and other products used in the home. The Company markets its products under well-known 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®; respected 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®; and valued home solutions brands, including Bombay®, BUILT NY®, Taylor® Bath and Taylor® Weather. The Company also provides exclusive private label products to leading retailers worldwide.
The Company’s corporate website is www.lifetimebrands.com.
