Fiskars Corporation acquires WWRD
Fiskars Corporation on May 10th agreed to acquire WWRD and its portfolio of brands. The agreement between the two companies will extend Fiskars’ portfolio of luxury home and lifestyle brands, and extend the company’s presence in the US, Europe, and the Asia-Pacific.
The transaction that is expected to close this July involved Fiskars’ purchase of 100% of the shares of WWRD group from KPS Capital Partners for $437 million. After the transaction is finalized, WWRD’s management will report to Kari Kauniskangas, the President and CEO of Fiskars Corporation.
"Through the acquisition we will create a strong presence for the Fiskars Living business in the U.S., and further enhance Fiskars’ market position in Europe and Asia-Pacific. Fiskars will now have a balanced portfolio of businesses. Our Functional products and Living products business units will become approximately equal in size and all business units, including Outdoor, will continue as important parts of our company and will be developed according to our strategy," said Mr. Kauniskangas.
WWRD is the leading provider of luxury home and lifestyle products worldwide. The company manufactures, distributes, and sells iconic brands Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška. WWRD also has high-profile licensing partnerships and collaborations with home and lifestyle designers and innovators including Vera Wang, Miranda Kerr, Gordon Ramsay, Monique Lhuillier, Jasper Conran, John Rocha, Donna Hay, Jo Sampson, Barber and Osgerby, and is the proud holder of the Royal Warrants by Appointment for tableware and giftware to Her Majesty The Queen for Wedgwood, and to His Royal Highness The Prince of Wales and Her Majesty The Queen for Royal Doulton.
Founded in 1649, Fiskars is the leading global supplier of consumer products for the home, garden, and outdoors.
Fiskars will continue to develop all WWRD and Fiskars Living brands.
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