Fiskars Corporation has completed the acquisition of WWRD and extended its portfolio with iconic luxury home and lifestyle brands
Fiskars Corporation Stock Exchange Release July 2, 2015 at 08:30 EET
Fiskars Corporation has completed the acquisition of WWRD and extended its portfolio with iconic luxury home and lifestyle brands
Fiskars Corporation, a leading consumer goods company, has completed the acquisition of the WWRD group of companies from KPS Capital Partners, announced on May 11, 2015. With the closing of the acquisition Fiskars Corporation extends its portfolio with iconic luxury home and lifestyle brands, which include Waterford, Wedgwood, Royal Doulton, Royal Albert and Rogaška. The acquisition has been approved by the US antitrust authorities.
“We welcome WWRD and its employees around the world to the Fiskars team. The completion of the acquisition marks the first step in our joint journey, as the two organizations start designing the future together,” said Kari Kauniskangas, President and CEO of Fiskars Corporation.
“The globally renowned brands, their centuries of heritage and the WWRD teams’ expertise will support Fiskars’ growth strategy and goal of becoming a leading global branded consumer goods company in the luxury and premium home and lifestyle products market. The WWRD acquisition will also create a strong presence for Fiskars in the U.S., and will further enhance the company’s market position in Europe and the Asia-Pacific region,” said Kauniskangas.
Fiskars’ three reporting segments continue to be Europe & Asia-Pacific, Americas and Other. WWRD sales will be reported as part of the Living products business unit as of July 1, 2015. Fiskars’ outlook for 2015 published in the Q1 2015 interim report on April 30, 2015 does not take into account the impact of the now completed acquisition on the company’s net sales and operating profit for 2015. Potential implications on Fiskars’ outlook for 2015 will be announced as soon as a reasoned estimate can be made.
FISKARS CORPORATION
Kari Kauniskangas
President and CEO
Media and analyst contacts:
Head of Corporate Communications Maija Taimi, Fiskars Corporation, tel. +358 204 39 5031, communications@fiskars.com
Media kit:
A media kit with additional information on Fiskars Group’s and WWRD’s brands as well as press images and logos is available at www.fiskarsgroup.com/wwrd.
Fiskars – celebrating centuries of pride, passion and design. Every day.
Established in 1649 as an ironworks in a small Finnish village, Fiskars has grown to be a leading consumer goods company with globally recognized brands including Fiskars, Iittala, Gerber, Wedgwood and Waterford. With iconic products, strong brands and global ambitions, Fiskars’ mission is to enrich people’s lives in home, garden and outdoor. Fiskars’ products are available in more than 100 countries and the company employs around 8,600 people in 30 countries. Fiskars is listed on Nasdaq Helsinki. www.fiskarsgroup.com