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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. 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." The Royal Doulton name in the hospitality industry has always been synonomous with refinement and quality. With the introduction of their newest design - LOOP - this trend continues. Reminescent of retail dinnerware shapes from the 1980's, LOOP is freshened up and has the practical qualities necesssary for the hospitality tabletop, such as stacking cups, large 12" pasta bowls, and a variety of squares and rectangle shaped plates.
You can see all the collections that Royal Doulton has for the hospitality industry by going here:
http://www.wwrdhospitality.com/ Since its acquisition by the Wedgwood Group, Royal Doulton has seemingly moved to the edge of the radar screen, some might even say off the radar screen...particularly the Royal Doulton Hospitality Division. But, with a wide array of shapes, sizes, and quality levels, Royal Doulton continues to quietly supply a large portion of hotels and restaurants with graceful, elegant, and affordable dinnerware. One of our favorite Royal Doulton shapes is the simple, yet classically stylish Jupiter white. Dinnerware in its purest form, Jupiter is bone china that is affordable, durable and robust. One of our favorite aspects of the Jupiter line is the classic range of cups that Royal Doulton offers. Yes, we know that more and more are preferring mugs, but the Jupiter cups from Royal Doulton work just as well from high tea to large volume banqueting. Yes, Royal Doulton has lots of the "new look" shapes that are triangles, wedges, rectangles, and any one of a zillion different shapes....but, Jupiter remains as a standard of sorts. When introduced more than a few years ago, it was one of the first higher-end dinnerwares that came out as an affordable enough for everyday use. Well, Jupiter remains true to its introduction and for those looking for prestige branding, high quality, and an affordable pricing......Jupiter is still a top option. If you haven't considered Royal Doulton in a while, maybe it's time to check back with this long-time hospitality leader. You can see all the Royal Doulton professional products by going to: http://www.wwrdhospitality.com/us/index_usa.asp
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