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[June 2008]
Mikasa Sold to Lifetime Brands Inc
Arc International, the French world leader in tableware, has announced the sale of the Mikasa® brand and some related assets to Lifetime Brands Inc. The sale of Mikasa® is consistent with Arc’s strategic plan announced in 2007 to refocus on its core business. Following the conclusion of the Salviati® sale and the closure of the Mikasa® stores in North America, this process is now well underway.
The group maintains a significant presence in the North American market. Supported by the manufacturing and sales network, the three business lines, BtoB, Food Service and Consumer Goods, represent a total turnover of more than US$200 million. The expertise on the oenology and Food Service markets will be further developed through the Chef & Sommelier® (C&S) brand, which was successfully launched at the beginning of 2008 in all of its main markets.
Arc International is confident that Lifetime Brands Inc, a major tableware group in North America, will actively develop Mikasa®. Arc International will pay special attention to the employees throughout the transition period, in accordance with its social practices and the applicable regulations in each country.
www.arc-intl.com
ENDS