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According to the Wall Street Journal….EveryWare Global, Inc., parent of Oneida Foodservice, announced today financial results for the last three months and full year for 2013. Led by the iconic Oneida and Anchor Hocking brands, EveryWare is the leading global marketer of tabletop and food preparation products for the consumer and foodservice markets. Financial Highlights for the Quarter ended December 31, 2013: -- Total revenue increased 4.6% to $129.3 million. -- Adjusted EBITDA increased 10.2% to $15.1million -- EBITDA decreased 113.0% to $(1.2) million versus the prior year period. The decrease was primarily due to one-time items, including an adjustment to inventory reflecting a change in estimate in the capitalization of manufacturing variances. -- Net loss for the fourth quarter totaled $(14.3) million. Financial Highlights for 2013: -- Total revenue increased 4.3% to $439.8 million. -- Adjusted EBITDA increased 4.1% to $51.5 million. -- EBITDA decreased 8.9% to $29.7 million. -- Net loss totaled $(17.4) million. Sam Solomon, interim Chief Executive Officer of EveryWare stated, "I am pleased to join the EveryWare team and I am excited about the Company's prospects. With a renewed focus on our most important channels and by leveraging our iconic brands, we are taking actions that will create more customer value, improve margins, reduce costs, more efficiently allocate capital and ultimately generate free cash that can be used to invest in the business and pay down debt." "My first 4 weeks have been very busy. While getting to know key members of the EveryWare team, I prioritized initiatives to drive cash flow and met with key customers and suppliers. The team completed the Company's first 10K and secured an equity commitment letter from our largest shareholder. I look forward to the hard work ahead and sharing more as the team refines the Company's strategy." continued Solomon. To read the entire Wall Street Journal article, go here: http://online.wsj.com/article/PR-CO-20140331-911544.html EveryWare Global, Inc. - parent of hospitality tabletop leader Oneida Foodservice - announced that its board of directors has appointed Sam Solomon to serve as interim CEO, effective immediately. Solomon is succeeding John Sheppard, who left the company effective February 24, 2014. Sam Solomon joins EveryWare with more than 20 years of leadership experience in branded consumer, multi-channel businesses including Sears, The Coleman Company and Procter and Gamble. Most recently, he served as president of the Sears/Kmart tools, hardware and paint business where he was responsible for the Craftsman brand. Prior to Sears, Solomon served as president and CEO of The Coleman Company, a division of Jarden Corp., the global consumer products company, for seven years. At Coleman, Solomon led the company to double-digit sales and profit growth through innovative marketing, effective sales strategies, operational excellence and aggressive international Daniel Collin, chairman of the board of directors at EveryWare, said, "Sam is an accomplished executive with a clear understanding of strategy, finance and operations in the branded consumer product industry. We are confident that he brings the right management skills and leadership to ensure the company continues to execute its business strategy, including securing new customer wins in underserved channels, expanding the international and specialty segments, and identifying cross-selling opportunities in the foodservice segment." Collin added: “We look forward to working with Sam as EveryWare continues to grow and innovate. In addition, on behalf of the board, I would like to thank John for his contributions and wish him the best in his future endeavors." The board of directors has formed a search committee to evaluate candidates to serve as the company's permanent CEO and has engaged executive search firm Korn Ferry to assist in the process. Solomon is a candidate in the search for a permanent EveryWare CEO. Solomon said, "I am excited about EveryWare's opportunity to build on its established and compelling business model. The company has extensive avenues for growth that can be achieved by leveraging two of the most recognized brands in the tabletop industry, strong customer relationships and continued product innovation. I look forward to working with EveryWare's customers, suppliers and team members." TabletopJournal has comfirmed that Jacqui Gagnon-Volles, Chief Marketing Officer, for Everyware has also departed the company this week, as well. Trade publication HomeworldBusiness.com reported today that EveryWare Global, Inc., parent company of the Oneida and Anchor Hocking brands, today announced its financial results for the three and six months ended June 30, 2013. Total revenue for the second quarter of 2013 increased $2.5 million, or 2.5%, from $98.4 million in the second quarter of 2012 to $100.8 million in the second quarter of 2013 (excluding currency fluctuation, the revenue increase is 2.7%). The increase in second quarter revenue is primarily attributable to strong growth in the international and specialty segments, the company noted. Total revenue for the six months ended June 30, 2013 increased $5.4 million, or 2.8%, from $194.8 million for the six months ended June 30, 2012 to $200.2 million for the six months ended June 30, 2013 (excluding currency fluctuation, the revenue increase is 3%). John Sheppard, EveryWare’s CEO, stated: “I am extremely pleased that our growth continued in the second quarter and first half of the year and that our results were in line with our internal expectations. The fundamentals and outlook for our business and industry remain strong. Given our continued focus on innovation, as well as our world class brands and customer service, we believe that we are well positioned for a strong second half of the year. During the second quarter, we continued to realize the benefit of the Oneida and Anchor Hocking combination, and are encouraged by the accelerating growth in our international segment. The acquisition of the Samuel Groves and George Wilkinson businesses in the U.K. and our Brazilian licensing agreement strengthen our international presence and underscore our commitment to building our global platform. Looking ahead, we remain committed to achieving our financial targets for the year.” To read the entire article, go here: http://homeworldbusiness.com/links/news/news.php?ID=22461 To learn more about the entire line of foodservice tabletop products offered by Oneida Foodservice, go here: http://foodservice.oneida.com/ Oneida Ltd and Anchor Hocking Foodservice parent EveryWare Global’s financial results improved in its first quarter, which ended on March 31.
According to a preliminary report on the quarter, EveryWare posted net income of $197,000, compared to a net loss of $6.3 million in the first quarter of last year. Total revenue increased 3.1 percent to $99.3 million. The company also reported a 58.1 percent gain in operating income (earnings before interest, taxes, depreciation and amortization) to $9.1 million. John Sheppard, EveryWare’s CEO, said the combination of the Anchor Hocking and Oneida brands under its corporate umbrella helped elevate EveryWare to results that were ahead of its budget for the quarter. “We delivered meaningful growth in our core North American markets,” Sheppard said, “and we expect to see growth accelerate in our international segment in the coming quarters, as we leverage our iconic brands, diversified product portfolio and distribution infrastructure.” EveryWare was formed by the merger of Anchor Hocking and Oneida in March 2012. In January of this year, the company announced its plans to merge with ROI Acquisition Corp., a special-purpose acquisition company sponsored by affiliates of Clinton Group. To learn more about the wide range of hospitality industry products available from Everyware, go here: http://foodservice.oneida.com/
In his own words, Jay Allie explains: Lead Free Crystal Glass. Traditional styling. Melted stem technology. Sheer fire polished rims. Having all these attributes makes Stolzle's CELEBRATION another great option when it comes to elevating the wine experience for the hospitality guest. For more information on Stozle's new CELEBRATION contact Jay Allie directly or for more information on the entire lineup of hospitality products from Everyware Global, go here:
http://www.foodservice.oneida.com/ The just completed International Restaurant & Foodservice Show of New York showcased a number of terrific tabletop companies and products. overall show traffic was brisk and heavy, with the aisles filled with regional hospitality professionals. One of the most interesting and best merchandised tabletop displays of the show was the booth by well known New York dealer Sam Tell Companies. Filled with great displays of top tabletop brands such as Oneida, Arc/Cardinal, Homer Laughlin, Libbey and more. Dealer booths are soemtimes difficult to merchandise because of the wide variety of products carried by most dealers, but the Sam Tell display was a great example of a well-thought out plan with a great tabletop focus. Well done.
"International expansion is an important part of our strategic growth plan, and the more than $1.3 billion Korean market represents a significant opportunity to extend the reach of our market leading products," said John Sheppard, CEO of EveryWare. "Doh Kwang Trading is a highly-respected company in Korea with strong relationships and a long track-record of success in working with consumer brands to introduce them to retail and business-to-business customers. We are pleased to be partnering with Doh Kwang Trading and are confident in its ability to establish and grow our presence in the Korean market." To read the entire article in Marketwatch.com go here: http://www.marketwatch.com/story/everyware-global-inc-expands-its-global-reach-in-korea-2013-02-28 To learn more about the Oneida and Anchor Hocking hospitality tabletop items, go here:http://www.foodservice.oneida.com/
EveryWare Global, the tabletop company formed last year with the merger of Anchor Hocking and Oneida, has reached an agreement to merge with ROI Acquisition Corp. in a deal that would take the company public. Currently, EveryWare is owned primarily by funds managed by Monomoy Capital Management. Once the new merger is finalized, the combined companies will keep the EveryWare Global name, and the stock will be traded on the Nasdaq market under the ticker symbol EVRY. A joint statement from EveryWare and ROI said the combined value of the business will be about $420 million after the transaction is closed. Terms were not disclosed, nor was a date for the closing of the transaction. The joint statement described ROI as “special-purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving ROI Acquisition Corp. and one or more businesses.” The EveryWare management team is expected to remain in place post-merger, led by President and CEO John Sheppard. Daniel Collin, current EveryWare chairman and partner in Monomoy, will remain as chairman. Thomas J. Baldwin, chairman and CEO of ROI, will become the merged company’s vice chairman. EveryWare, owned primarily by funds managed by Monomoy Capital Management, LLC ("Monomoy"), is one of the world's largest designers, manufacturers and marketers of tabletop and food preparation products for the consumer and foodservice markets. ROI, a special purpose acquisition company sponsored by affiliates of Clinton Group, Inc., holds approximately $75 million of cash in its trust account. The statement added that EveryWare posted adjusted EBITDA of $54.9 million for the year ended Dec. 31, up 53 percent from the year ending Dec. 31, 2011. For this year, the company projects adjusted EBITDA of $61.1 million. EveryWare Global, Inc. announced today the formation of a global company featuring a portfolio of leading brands focused on the foodservice supply and consumer tabletop industries. With Anchor Hocking and Oneida as cornerstones of its offering, EveryWare’s foundation will leverage the strengths of two iconic and trusted brands to serve both the domestic and growing international markets. This newly unified company will also leverage its combined and extensive new product development expertise. "Our product designs will focus on innovative consumer and foodservice solutions following a ‘good, better, best’ strategy, enabling our complete portfolio of multi-tiered brands to differentiate by channel and product placement. We believe we have attractive growth opportunities in nearly all areas of our business and are actively pursuing both geographic and product line expansion,” said John Sheppard, EveryWare’s CEO. The Company’s multi-pronged international go-to-market strategy includes a combination of Company-owned and managed operations in North America, Latin America, Europe and Asia, augmented by joint venture partners, brand license partners, and exclusive distribution arrangements located throughout the world.
The integration of the separate companies’ North American operations is nearly complete, with unified sales forces, customer service, supply chain, product marketing, distribution and back office operations. “Our objective in combining the Anchor and Oneida operations was to create the most nimble and customer responsive company in the industry. Our continuous improvement initiatives strive to streamline and simplify the customer experience in order to realize our goal of becoming the easiest supplier to do business with”, commented Sheppard. The new company will continue to build on the high quality product ranges offered by both Anchor Hocking and Oneida. Innovative design and an enhanced product development team will fuel growth plans. “Our focus will be on enhancing the dining and food preparation experience. By combining forces, we better understand our customers’ tabletop needs, offering products for customers of all budgets,” said Jaci Volles, EveryWare’s Chief Marketing Officer. Brand Identity for Anchor Hocking and Oneida will remain distinct and be part of a larger hierarchical brand vision that will define EveryWare as a global market leader. |
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