Kitchen Craft acquired by US-based Lifetime Brands

Clearwater Advisor

Press Release

Kitchen Craft, one of the UK’s leading suppliers of kitchenware products and accessories, is looking forward to further growth and investment following its acquisition by NASDAQ-listed Lifetime Brands (NASDAQ GS: LCUT) for an undisclosed sum.

Birmingham-based Kitchen Craft was established in 1850 as Thomas Plant and has remained in family ownership ever since. The business sells a wide range of branded and own brand kitchenware products. Other than Kitchen Craft, the firm sells products under a number of brands including Masterclass, Colourworks, Bar Craft and Sweetly Does It. With an extensive customer base ranging from independent stores through to larger chains, the company supplies over 2,600 customers both in the UK and across more than 70 countries worldwide.

Lifetime Brands is a global provider of branded kitchenware, tableware and other home products, supplying the top homeware retailers in North America. As part of the Lifetime Brands portfolio, Kitchen Craft will operate as a separate division under the continuing leadership of Andrew Plant, Richard Plant and Peter Bushell. The acquisition of Kitchen Craft broadens the customer base of Lifetime Brands in the UK and Europe. Lifetime acquired the leading tableware and accessories business Creative Tops in 2011 and both Kitchen Craft and Creative Tops will continue to be run separately.

“With the UK economy in recovery, we are seeing an increase in overseas companies, particularly in the US, looking to expand their portfolios in the UK and Europe. Kitchen Craft and Lifetime Brands share the same values and ethos and the combination of these two businesses will provide significant opportunities for growth both in the UK and internationally.”

Gareth Iley, Head of Consumer at Clearwater International

“We were really pleased with our choice of Clearwater as our adviser to help us sell our business. Our family had owned the business for over 164 years and it was vital that we had an adviser who appreciated our desire for the business to be left in good hands while also ensuring that the price was a true reward for the family. The team at Clearwater worked tirelessly to ensure that our objectives were met and we were delighted at the advice and service we received. We would recommend Clearwater to anyone looking to exit their business – their clarity of thinking and ability to see a clear way forward through highly complex issues was invaluable and apparent at all stages in the process.”

Andrew Plant, Managing Director at Kitchen Craft