Lifetime Brands buys Kitchen Craft
Lifetime Brands has purchased Kitchen Craft, a U.K. kitchenware products and accessories supplier formally known as Thomas Plant (Birmingham) Ltd.
"Kitchen Craft's broad ranges of kitchenware products fill a gap in our existing U.K. housewares assortment that will complement the tableware and gift assortments marketed by Creative Tops," said Lifetime Brands chairman and CEO Jeffrey Siegel.
Kitchen Craft products are stocked in 70 countries under brand names such as Master Class, Molten, Natural Elements and Kitchen Craft. Under the agreement, it will become a separate division of Lifetime Brands Inc. and will maintain its current management structure.
Thomas Plant made approximately $70 million in revenue for the fiscal year of 2013. The specific financial terms of the agreement were not disclosed.