Lifetime Brands Deals for Copco Brand
Posted on October 6, 2016 by
GARDEN CITY, N.Y.-Lifetime Brands has acquired the Copco product line from Wilton Brands.
Terms of the deal were not disclosed. Copco markets a variety of thermal and hydration beverageware including travel mugs, cups, tumblers and carafes; tea kettles; and kitchen organization products.
“Like the three kitchen brands we recently acquired from Focus Products Group, the Copco brand fits perfectly into Lifetime’s platform, and we have the resources to quickly enhance its performance,” said Jeffrey Siegel, Lifetime’s chairman and CEO. Siegel was referring to the company’s purchase of Focus Products’ kitchen division, which included the Amco Houseworks, Chicago Metallic and Swing-A-Way brands, and which Lifetime completed at the end of August.
“Moreover, since Copco-branded products are in categories in which Lifetime already is well established, we expect the acquisition to provide immediate gross margin dollars without any accompanying increase in SG&A (selling, general and administrative expenses),” Siegel added.