Fiskars acquires luxury brands
Fiskars has agreed to acquire the WWRD group of companies and its portfolio of iconic luxury home and lifestyle brands, which include Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška.
Fiskars agreed to buy 100 per cent of the shares in the holding company of the WWRD group, including its brands and business operations from the US-based private equity firm KPS Capital Partners.
The purchase price was 437 million dollars, which is approximately 406 million euros.
After the acquisitions of Iittala Group. in 2007, Royal Copenhagen A/S in 2013 and now WWRD, Fiskars Group is set to become a leading global branded consumer goods company in the area of luxury and premium home and lifestyle products focusing on table top, giftware and interior décor,” says Kari Kauniskangas, president and CEO of Fiskars Corporation.
For Fiskars Living business, the WWRD acquisition will create a strong presence in the US, and will further enhance Fiskars’ market position in Europe and Asia-Pacific.
Established in 1649 as an ironworks in a small Finnish village, Fiskars is a leading global supplier of consumer products for the home, garden and outdoors. The company employs 4800 people in 20 countries. WWRD is a leading provider of luxury home and lifestyle products worldwide and it has a global footprint and has manufacturing sites in England, Ireland, Slovenia and Indonesia.
After the acquisition, Fiskars Group will employ a total of 8 600 employees.
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