GARDEN CITY, N.Y., Sept. 05, 2017 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS:LCUT), a leading global provider of branded kitchenware, tableware and other products used in the home, today announced it has acquired the business and assets of Fitz and Floyd.
Founded in 1960, Fitz and Floyd (www.fitzandfloyd.com) designs, sources, markets and distributes Fitz and Floyd® and other branded tabletop products and decorative ceramic collections through a diverse array of distribution channels, such as big box retailers, department stores, specialty kitchen and gift shops and e-commerce websites.
Jeffrey Siegel, Lifetime’s Chairman and Chief Executive Officer, commented, “Fitz and Floyd products, including handcrafted, decoratively designed figurines and centerpieces and elegant dinnerware and serveware are recognized for their high quality and unique style.”
Mr. Siegel continued, “The Fitz and Floyd® brand fits perfectly into Lifetime’s platform and we have the resources quickly to enhance its performance. Moreover, since Fitz and Floyd® branded products are in categories in which Lifetime already is well-established, we expect the acquisition to be accretive in 2017.”
Steven R. Baram, Fitz and Floyd’s President and CEO, will join Lifetime’s Tabletop Division as President of the Fitz and Floyd Division.
Terms of the acquisition were not announced.
In this press release, the use of the words “believe,” "could," "expect," "may," "positioned," "project," "projected," "should," "will," "would" or similar expressions is intended to identify forward-looking statements that represent the Company’s current judgment about possible future events. The Company believes these judgments are reasonable, but these statements are not guarantees of any events or financial results, and actual results may differ materially due to a variety of important factors. Such factors might include, among others, the Company’s ability to comply with the requirements of its credit agreements; the availability of funding under such credit agreements; the Company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt; changes in general economic conditions which could affect customer payment practices or consumer spending; the impact of changes in general economic conditions on the Company’s customers; changes in demand for the Company’s products; shortages of and price volatility for certain commodities; significant changes in the competitive environment and the effect of competition on the Company’s markets, including on the Company’s pricing policies, financing sources and an appropriate level of debt.
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®, Chicago™ Metallic, Copco®, Fred® & Friends, Kitchen Craft®, Kamenstein®, Kizmos™, La Cafetière®, MasterClass®, Misto®, Mossy Oak®, Swing-A-Way® and Vasconia®; respected tableware and giftware brands, including Mikasa®, Pfaltzgraff®, Fitz and Floyd®, Creative Tops®, Empire Silver™, Gorham®, International® Silver, Kirk Stieff®, Towle® Silversmiths, Tuttle®, Wallace®, Wilton Armetale®, V&A® and Royal Botanic Gardens Kew®; and valued home solutions brands, including Bombay®, BUILT NY® and Debbie Meyer®. The Company also provides exclusive private label products to leading retailers worldwide.
The Company’s corporate website is www.lifetimebrands.com.
Lifetime Brands, Inc.
Laurence Winoker, Chief Financial Officer
Harriet Fried, SVP
Source:Lifetime Brands, Inc.