BRISTOL, Penn.— Lenox Company has acquired Oneida Client LLC, together with all current Oneida-branded flatware, dinnerware and cutlery, for an undisclosed sum, Lenox introduced this morning.
The 2 firms, that are each owned by the non-public fairness agency Centre Lane Companions however have been separate and impartial of one another, will now function complementary manufacturers within the Lenox Corp. portfolio, Lenox CEO Bob Burbank advised sister publication HFN.
Noting Oneida’s power within the mid-tier specialty channel and within the hospitality enterprise, Burbank mentioned the acquisition provides every model the chance to cross distribution channels the place every is a pacesetter and strengthens the corporate’s good/higher/finest assortment.
Lenox acquired Hampton Forge, whose flatware enterprise is powerful within the warehouse and mass service provider channels, in January.
In an announcement in regards to the Oneida acquisition, Burbank mentioned, “All of those nice manufacturers have served as trade leaders of their respective classes, reaching a broad shopper base. As one household, our merchandise are offered to 1000’s of shops together with specialty and shops, mass retailers, warehouse golf equipment and grocery shops throughout the U.S., Canada and worldwide markets worldwide. This new mixture of manufacturers and array of merchandise will create unprecedented progress alternatives inside our current buyer base, and open new distribution worldwide.”
“I consider the mixture of those two iconic manufacturers creates a really dynamic shopper product firm,” mentioned Mark Eichhorn, CEO of The Oneida Group. “With the model administration experience and product and provide chain data that Lenox possesses mixed with their dedication to reenergize and develop the beloved Oneida model, I consider that Lenox is the best steward for the Oneida model.”
Out of the gate, the Oneida crew will keep intact and “present Oneida clients will see little or no change,” Burbank advised HFN, although he acknowledged that sooner or later, gross sales and different departments could also be consolidated.
It has been a busy yr for Lenox. It closed its Kinston, N.C., manufacturing facility in the beginning of the pandemic final yr and was acquired by Centre Lane Companions in October. It acquired Hampton Forge in January and offered the Dansk model to Meals 52 final month. Burbank succeeded Mads Ryder as CEO in between the acquisition of Hampton Forge and the shedding of Dansk.
When requested about his model technique, Burbank mentioned that, taking a look at its core belongings in flatware and tabletop, “you’ll be able to’t be nice in any respect issues.” He mentioned that Kate Spade and Reed & Barton, two different manufacturers within the Lenox Corp. portfolio, complement the Lenox, Hampton Forge and now, Oneida, manufacturers.
“It’s extra of a simplifying focus, much less to do with something in regards to the [Dansk] model particularly,” he mentioned.