Lifetime Brands acquires stake in Brazilian housewares company
Michael J. Knell -- Furniture Today, December 13, 2011
GARDEN CITY, N.Y. - Lifetime Brands, Inc., a global provider of kitchenware, tabletop, home décor and lifestyle products, announced it has acquired a 40% equity interest in GS International S/A.
GSI is a leading wholesale distributor of branded housewares products in Brazil. The company markets dinnerware, glassware, home décor, kitchenware and barware to more than 7,000 customers, including department stores, specialty retailers and independent shops throughout Brazil. The company's principal office and distribution facilities are located in Serra, State of Espirito Santo, close to Vitória, Brazil's largest container port. GSI also maintains a showroom and offices in São Paulo.
Jeffrey Siegel, Lifetime's chairman, president and CEO said, "This investment represents another step in executing our strategy to accelerate our growth and to strengthen our business by investing in successful companies in partnership with strong local management teams."
In November 2011, Lifetime acquired Creative Tops Ltd., a wholesale provider of tableware, kitchenware and giftware products in the United Kingdom. The company also owns a 30% equity interest in Grupo Vasconia, S.A.B. in Mexico and a profit sharing interest in a strategic alliance in Canada.
Lifetime includes home décor and lifestyle brands Design for Living, Elements and Melannco; tabletop brands Mikasa, Pfaltzgraff, Creative Tops, Calvin Klein, Gorham, International Silver, Kirk Stieff, Nautica, Sasaki, Towle Silversmiths, Tuttle, Wallace, V&A and Royal Botanic Gardens Kew; and kitchenware brands Farberware, KitchenAid, CasaMōda, Cuisinart, Cuisine de France, Hoffritz, Kamenstein, Kizmos, Misto, Pedrini, Roshco, Sabatier and Vasconia.
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