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Fiskars Corporation, a leading global supplier of consumer products for the home, garden and outdoors, has agreed to acquire the WWRD group of companies and its portfolio of iconic luxury home and lifestyle brands, which include Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška. Fiskars continues executing its growth strategy and becomes a leading global branded consumer goods company in the luxury and premium home and lifestyle products market, with a clear focus on tabletop, giftware and interior décor. For Fiskars Living business, the WWRD acquisition will create a strong presence in the U.S., and will further enhance Fiskars’ market position in Europe and Asia-Pacific.
Fiskars has on May 10, 2015 agreed to buy 100% of the shares in the holding company of the WWRD group, including its brands and business operations from the U.S.-based private equity firm KPS Capital Partners. Fiskars will also acquire certain intercompany receivables. The purchase price payable is USD 437 million (EUR 406 million) on a cash and debt free basis, subject to a post completion adjustment based upon the level of net working capital and cash and debt in the acquired business on a closing date. Fiskars will finance the acquisition by monetizing its holdings in short term interest rate funds. The transaction is subject to the completion of the antitrust filing under the U.S. Hart-Scott-Rodino Antitrust Improvements Act (HSR Act), and it is expected to close in the beginning of July 2015. According to unaudited special purpose carve-out financial information, the net sales of WWRD equalled USD 432 million (EUR 402 million) and preliminary EBIT USD 33 million (EUR 31 million) at company’s constant currency rates in fiscal year ending on April 4, 2015. The estimated geographic distribution of the aforementioned net sales is Americas 44%, Asia-Pacific 35%, and Europe 21%. Fiskars’ outlook for 2015 published in Q1 2015 interim report on April 30, 2015 does not take into account the impact of the now disclosed acquisition on the company’s net sales or operating profit for 2015. Potential implications on Fiskars’ outlook for 2015 will be announced later when a reasoned estimate can be made. Upon the closing of the transaction, Fiskars and WWRD will start building a successful future together as part of a strong family of highly renowned brands. The management of WWRD will report to Mr. Kari Kauniskangas, President and CEO of Fiskars Corporation. “We are delighted to be bringing together WWRD’s portfolio of iconic luxury home and lifestyle brands with Fiskars’ highly regarded Living brands of Iittala, Royal Copenhagen, Arabia and Rörstrand, which are renowned for their Scandinavian design and heritage. After the acquisitions of Iittala Group Ltd. in 2007, Royal Copenhagen A/S in 2013 and now WWRD, Fiskars Group is set to become a leading global branded consumer goods company in the area of luxury and premium home and lifestyle products focusing on table top, giftware and interior décor,” says Kari Kauniskangas, President and CEO of Fiskars Corporation. to learn more, go here: http://www.fiskarsgroup.com/media/press-releases/fiskars-corporation-acquires-the-renowned-wwrd-and-extends-its-portfolio-with-iconic-luxury-home-and-lifestyle-brands#sthash.I7i1DfUg.dpuf Tabletop leader WWRD (Wedgwood, Royal Doulton, and Waterford) has added to their Hospitality Division by teaming up with upscale metals manufacturer Heritage Collection to develop a new hospitality flatware design - HELIX.
Tim Harper, Wedgwood's head of hospitality, is quoted by local newspaper The Sentinel as saying, "There is no doubt that our relationship with another high quality British manufacturer will seize on the current mood of our domestic and international buyers to look for the very best of British." Wedgwood's new HELIX flatware has already been selected by the luxury hotel group Langham Hotels. Wedgwood Hospitality Division has nearly 250 years experience in the tabletop business and offers tableware for all of levels of restaurant and hotel catering/banqueting requirements. To read the entire article from The Sentinel, go here: http://www.stokesentinel.co.uk/Business-Ceramics-company-Wedgwood-produce-new/story-21743963-detail/story.html To learn more about the WWRD group, Wedgwood Hospitality Division and their line of quality hospitality tabletop products, go here: http://www.wwrdhospitality.com/ We had mentioned before that the WWRD hospitality brands were finally getting together in America and other parts of the world. Nice to see such high quality, premier brands - and products - being marketed together. There are few global brands that carry the panache and sophistication of the WWRD brands.
Having all three brands under a single marketing "roof" insures that customers will enjoy the benefits of knowing they are dealing directly with one of the world's great tabletop producers. WWRD ownership's recent committment to investing in the company's heritage and brand experience insures that the quality products that Wedgwood, Royal Doulton, and Waterford have been known are sure to continue for generations to come. You can view the entire range of WWRD hospitality products by going here:
http://www.wwrdhospitality.com/ According to the Sentinel newspaper, tabletop giant Wedgwood has today unveiled multi-million pound plans to redevelop its Stoke-on-Trent base. Parent company WWRD is planning a £25 million investment in its Barlaston works three years after buying Wedgwood out of administration. WWRD chief financial officer Anthony Jones said: "We've made the bold decision to transform the Wedgwood estate. We want to create an efficient and sustainable high-quality development that will underpin our ambitious aspirations and the future growth plans for the company. By building new, state-of-the-art factory facilities we can continue to develop a strong Wedgwood business in the Potteries, and commit to creating and safeguarding a significant number of jobs."
You can read the entire article about Wedgwood's plans by going here: http://www.thisisstaffordshire.co.uk/Pottery-giant-Wedgwood-unveils-pound-25-million/story-16465136-detail/story.html WWRD is the leading provider of luxury home and lifestyle products sold worldwide under a number of well-recognized brands, including Waterford, Wedgwood, Royal Doulton, Royal Albert, Minton and Johnson Brothers. WWRD maintains unique licensing arrangements with some of the most high-profile innovators in the home and lifestyle market, including Vera Wang, Jasper Conran, John Rocha, Monique Lhuillier, Barbara Barry, Gordon Ramsay, Martha Stewart, and Michael Aram. WWRD products are distributed through premium department stores and independent retailers and wholesalers around the world including the United States, United Kingdom, Japan, Canada, Australia and Ireland. WWRD has over 3,700 employees worldwide. From now until early September, there is an exhibit at the Victoria and Albert Museum in London showcasing the ceramics design firm Queensberry Hunt. Designers of dinnerware for companies like Rosenthal, Dudson, Wedgwood, and many others, Queensberry Hunt is a dedicated small team of specialist ceramic designers who combine craft modelling skills with modern design technology. With their main studio situated in central London, the firm is led by designers Martin Hunt and David Queensberry.
For the V&A Museum to honor Queensberry Hunt with this exhibition brings to light the importance of everyday product design to the dining experience. You can read more about this interesting museum exhibition by going here: http://new.queensberryhunt.com/exhibition/ To learn more about the design firm of Queensberry Hunt, go here: http://new.queensberryhunt.com/about-qh/ Waterford, Wedgwood, Royal Doulton and Oneida Ltd. today announced that they have agreed to end their licensing partnership on August 1, 2012. The decision reflects a mutual desire by both companies to build their businesses within their own brand portfolios.
"Our relationship with WWRD has been very positive, and this decision reflects a natural evolution in our businesses," said Steve Lefkowitz, Executive Vice President of Oneida Global Foodservice. "Oneida's growth strategy in the hospitality sector mainly will rely on our own brand portfolio, and our designs, production and distribution capabilities are in place to serve our customers." "We've enjoyed a long and successful relationship with Oneida," said Jonathan Witmer, Group Vice President and General Manager, Hospitality Worldwide for WWRD. "However, with our new strategy and growth plans well underway, we needed to refocus and reinvent. The global growth of WWRD's Corporate Hospitality Division underscores the importance of keeping our brands aligned across the markets." There have been a great number of hotel/restaurant quality bone china introductions of late. Seems like everyone .... except maybe Lodge Manufacturing...now has a bone china line. Some of them are truly spectacular and will no doubt elevate the overall category quality. But the one bone china line that remains at the head of the class is Wedgwood's (from Oneida) Othello shape. Most readers here know that we feel that decorated china - even simple lines of color or metallics - are preferable rather than plain, undecorated white plates. That said....if you HAVE to have white china....then, Othello is perhaps the one to have. It's simple, thin shape and graceful lines make it easy on the eye and the low tea cup (shown above) says elegance in every way possible. And, the other piece of good new....it is brought to the hospitality trade here in America by the good folks at Oneida. We've spoken lately about how Oneida is strengthening its organization and making it more customer-centric. Well, all that's true. But, what helps make it possible for Oneida to do all of this is the fact that they've got great products like Othello.
Still at the head of the class. Well done. See all the Oneida and Wedgwood products for foodservice by going to: http://foodservice.oneida.com/ Seems like restaurant dinnerware companies keep upping the ante in the game of who’s got the best white dinnerware. The latest entrant is Wedgwood Hotelware’s Ethereal. Graceful lines, reminding us of nature’s own beauty are embossed in a bone china material that would garner positive comments at your family’s dining room table. Only Ethereal is for restaurant tables, not the home. With some really terrific items for foodservice (our favorite might be the 20+ inch Leaf tray) , Ethereal is another step in the domestication of high end restaurant dinnerware. With lines continuing to be blurred between retail products and foodservice products, Ethereal offers beauty in an undecorated dinnerware. Leafy serving pieces and a unique cup handle will give operators attributes to debate, but one thing there can be no debate over is Wedgwood’s commitment to design and functionality in this new foodservice bone china offering. Both are part of Ethereal’s dinnerware DNA. With Oneida’s strength of distribution and marketing, our guess is that the leaves of Ethereal will be spreading out across the land very soon. Now….if we can only get some of that DNA into flatware….hmmm.
Ok....so they are not finding their way to the best tables in town....but don't think restaurant owners and managers are not picking things up here - they are. From wine glasses to candle votives - even bar supplies - smart operators are shopping IKEA.
I don't think Villeroy & Boch, Wedgwood, Riedel or Sambonet need to worry just yet. But, for low-mid level tabletop items, IKEA is growing as a source. For those companies not adding value to the supply chain....you had better pay attention. |
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