Arc Sells International Cookware Division
February 12, 2014,
FRANKFURT, Germany-Arc International has sold the Arc International Cookware division to U.S. investment firm Aurora Capital.
At the same time, stockholders of the privately held French glassware company have agreed to open the company's capital to outside investment.
Speaking from the Ambiente fair in Frankfurt, Germany, earlier this week, Fred Dohn, CEO of Arc's North American division, acknowledged that the parent company has suffered from "cash problems" but has met all of its financial covenants and financing for 2014 is "fine."
Dohn said he did not know the amount of capital available to outside investors.
The Arc International Cookware division has the exclusive licensing rights to, and sold, the Pyrex brand to Africa, Europe and the Middle East.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money