Lifetime Brands – LCUT – Acquires Fred® & Friends
NasdaqGS: LCUT), a global provider of branded housewares products, announced it has acquired the business and certain assets of Easy Aces, Inc., which operates under the name Fred® & Friends (“F&F”). F&F designs and markets novelty housewares and other products under the Fred® brand.
Fred® products include innovative and fun kitchen tools, tabletop accessories, party goods, personal accessories and desk and tech products. Fred® products are primarily distributed through independent specialty stores, selected major retailers and small chains, primarily in the U.S. and Canada.
Jeffrey Siegel, Lifetime’s Chairman, President and Chief Executive Officer commented,
“Lifetime’s access to international markets in Europe, Mexico, Brazil and China provides opportunities to introduce Fred® products into new markets and distribution channels. At the same time, Lifetime will benefit from F&F’s strong relationships with independent specialty stores, which should enable Lifetime to increase distribution of our recently introduced Savora® line of unique upscale kitchen tools and gadgets, which is targeted to this retail segment.”
Frederick A. Roses, F&F’s founder and “Head Fred,” said,
“Our very motivated and talented team looks forward to becoming a part of Lifetime. We’ll get to keep doing what we’re best at — designing products that put smiles on peoples’ faces and working with our designers, suppliers and customers — and let the folks at Lifetime take care of the rest.”
The acquisition is expected to be accretive to the Company’s diluted earnings per share in 2013. Terms of the acquisition were not announced.
Lifetime Brands, Inc. – LCUT
Lifetime Brands (LCUT) is a leading global provider of kitchenware, tabletop and other products used in the home. LCUT markets its products under such well-known kitchenware brands as Farberware®, KitchenAid®, CasaMōda®, Cuisinart®, Cuisine de France®, Guy Fieri®, Hoffritz®, Kizmos™, Misto®, Pedrini®, Roshco®, Sabatier®, Savora™ and Vasconia®; respected tabletop brands such as Mikasa®, Pfaltzgraff®, Creative Tops®, Gorham®, International® Silver, Kirk Stieff®, Sasaki®, Towle® Silversmiths, Tuttle®, Wallace®, V&A® and Royal Botanic Gardens Kew®; and home solutions brands, including Fred®, Elements®, Melannco®, Kamenstein® and Design for Living™. LCUT also provides exclusive private label products to leading retailers worldwide.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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