Lifetime Brands Buys Pfaltzgraff
The transaction is to close in July.
Pfaltzgraff, York, PA, was established in 1811 and had sales in 2004 of about $148 million.
"Organizationally, this is also a great fit for Lifetime," Lifetime Brands chairman/president/CEO Jeffrey Siegel said in a statement. "We committed to becoming a major presence in tabletop in 2004, when we acquired the business of Excel Importing Corp. and recruited Steven Lizak, formerly senior vice president of sales and marketing at Mikasa/Arc International. The acquisition of Pfaltzgraff will significantly accelerate our expansion into this important category."
Lizak will serve as president of the Lifetime Brands tabletop division. Marsha Everton, currently president/CEO of Pfaltzgraff, will continue as president of the brand. Pfaltzgraff's direct-to-consumer operations, design studios and distribution facilities will stay in York.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters