Lifetime to acquire Focus Products
Leading global provider of branded kitchenware and tableware Lifetime Brands has announced its intention to purchase the kitchen division of Focus Products Group
Lifetime Brands, Inc. (LCUT) and Focus Products Group International, LLC have announced that they have entered into a letter of intent, pursuant to which Lifetime would acquire the Kitchen Division of Focus Products Group, which sells various products under the Amco Houseworks®, Chicago™ Metallic and Swing-A-Way® brands.
Lifetime is a leading global provider of branded kitchenware, tableware and other products used in the home. Shares of Lifetime’s common stock are traded on the NASDAQ Stock Market under the symbol “LCUT”.
Founded in 2001, Focus Products Group International, LLC is a growth-oriented national provider of leading brands in the Bath, Home Fashion and Housewares for both retail and commercial spaces. Focus is a portfolio company of Centre Lanes Partners, LLC.
Jeffrey Siegel, Lifetime’s chairman and CEO, says, “We are delighted to add Focus Kitchen’s iconic brands, which complement Lifetime’s existing bakeware and kitchenware businesses.”
Marc Navarre, Focus’s president and CEO, said, “We are pleased to see the Focus Kitchen brands find an excellent home with Lifetime, allowing us to concentrate on our core brands and businesses.”
The parties intend to sign a definitive purchase agreement in the next two weeks and close the transaction the same day. The transaction is subject to the parties entering into a definitive purchase agreement for the acquisition.