Lifetime Brands acquires Mikasa
Housewares giant Lifetime Brands has acquired home decor manufacturer Mikasa, a division of Arques, France-based Arc International SA.
Mikasa manufactures a wide range of housewares and decorative accessories. Terms of the deal were not disclosed, but Lifetime CEO Jeffrey Siegel said the business unit should bring in more than $150 million in revenue in 2009.
Lifetime intends to update its financial guidance for 2008 to include the effect of the acquisition.
Lifetime Brands, based in Garden City, N.J., distributes housewares under names including Farberware, KitchenAid, Cuisinart, Towle and CasaModa.