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.