North American branded kitchenware business Lifetime Brands has acquired UK-based homeware company Creative Tops and Creative Tops Far East. Terms of the transaction were not disclosed. International investment banking firm Livingstone acted as exclusive financial advisor to Lifetime.
Livingstone, the leading independent, international investment banking firm, is pleased to announce the acquisition of Creative Tops Ltd. and Creative Tops Far East Ltd. (“Creative Tops”) by Lifetime Brands, Inc. (“Lifetime”). Livingstone acted as exclusive financial advisor to Lifetime. Terms of the transaction were not disclosed.
Lifetime (NASDAQ: LCUT) is North America’s leading provider of nationally branded kitchenware, tabletop, home décor and lifestyle products. The Company owns such kitchenware brands as Farberware®, KitchenAid®, Cuisinart® and Sabatier®; and respected tabletop brands such as Mikasa®, Calvin Klein®, Nautica® and Sasaki®.
The acquisition of UK-based Creative Tops significantly broadens the geographic scope of Lifetime’s business by introducing its brands to key markets in Europe, Asia and South Africa, where Creative Tops has strong relationships with local retailers.
Jeffrey Siegel, Lifetime’s President and CEO commented, “This acquisition represents a compelling, multifaceted opportunity that will allow us to accelerate Lifetime’s growth, create a global leader in the housewares business with a focus on quality and innovation, and to build shareholder value for years to come.”
Daniel Domberger, director at Livingstone who led the transaction for Lifetime, added, “This was a classic Livingstone deal, as it played to both our trans-Atlantic strength and our Consumer sector expertise, particularly in branded products. Lifetime has a clear plan for its international growth and the Creative Tops acquisition is an ideal extension of that vision”.
This is another hallmark consumer transaction for Livingstone, which has recently advised on deals with such global consumer leaders as Anheuser Busch, Mattel, Priceline.com, Kohler, Greencore, and Hertz.
David Sulaski, Livingstone partner and consumer head added, “We were pleased to help Lifetime extend its reach overseas, and to be in a trusted advisory position to such a respected consumer branded goods company. We covet the opportunity to put our global capabilities to work for our clients.”