Join        Login             Stock Quote

Lifetime Brands (LCUT) To Buy Business And Certain Assets Of Fred & Friends

 December 21, 2012 09:18 AM

(By Balaseshan) Lifetime Brands Inc. (NASDAQ: LCUT), a provider of branded housewares products, said it has agreed to buy the business and certain assets of Easy Aces Inc., which operates under the name Fred & Friends, for an undisclosed sum.

The acquisition is expected to be accretive to Lifetime Brands' earnings per share in 2013. Fred & Friends (F&F) designs and markets novelty housewares and other products under the Fred brand. F&F is located in Cumberland, Rhode Island.

Fred products include innovative and fun kitchen tools, tabletop accessories, party goods, personal accessories and desk and tech products. Fred products are primarily distributed through independent specialty stores, selected major retailers and small chains, primarily in the U.S. and Canada.

[Related -Dividend Roundup: ADT, CNS, IRM, KR, LCUT, RGLD, TGT]

"Lifetime will benefit from F&F's strong relationships with independent specialty stores, which should enable Lifetime to increase distribution of our recently introduced Savora line of unique upscale kitchen tools and gadgets, which is targeted to this retail segment," said Jeffrey Siegel, Lifetime's Chairman, President and Chief Executive Officer.

Lifetime Brands operates in two segments: the Wholesale segment, which is its primary business that designs, markets and distributes its products to retailers and distributors; and the Retail Direct segment in which it markets and sells a limited selection of its products through its Pfaltzgraff, Mikasa, Lifetime Sterling and Housewares Deals Internet Websites.

[Related -Durable (not So) Goods Orders]

LCUT closed Thursday's regular session at $10.50. The stock has been trading between $9 and $13.31 for the past 52 weeks.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageHas Warren Buffett Found The Best Investment In Oil?

Shares of oil stocks plunged again as the price of West Texas Intermediate wiped out nearly half of its read on...

article imageDemand For Safe-Haven Bonds Surged Last Week

The crowd piled into investment-grade bonds last week as economic worries triggered an exodus out of risky read on...

article imageThoughts on MetLife and AIG

In some ways, this is a boring time in insurance investing.  A lot of companies seem cheap on a book and/or read on...

article imageA 2016 Recession Would Be Different

If the US or the Eurozone entered a recession this year, a few macroeconomic variables would look very read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.