This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lifetime Brands Acquires Stake In GS Internacional S/A

Lifetime Brands, Inc. (NASDAQ GS: LCUT), a leading global provider of kitchenware, tabletop, home décor and lifestyle products, today announced it has acquired a 40% equity interest in GS Internacional S/A (“GSI”).

GSI is a leading wholesale distributor of branded housewares products in Brazil. The company markets dinnerware, glassware, home décor, kitchenware and barware to over 7,000 customers, including major department stores, housewares retailers and independent shops throughout Brazil. The company’s principal office and distribution facilities are located in Serra, State of Espirito Santo, close to Vitória, Brazil’s largest container port. GSI also maintains a showroom and offices in São Paulo.

Jeffrey Siegel, Lifetime’s Chairman, President and Chief Executive Officer commented,

“This investment represents another step in executing our strategy to accelerate our growth and to strengthen our business by investing in successful companies in partnership with strong local management teams.

“We are impressed by GSI and the quality and commitment of its management team, led by Paulo Soares. We look forward to working with Paulo to build GSI into the preeminent housewares company in South America.

“Our partnership with GSI will provide Lifetime with access to the rapidly growing Mercosul Area; allowing us to become a more effective global resource to our key retailer partners.”

Paulo Sergio G. Soares, GSI’s founder and Chief Executive said,

”Our partnership with Lifetime Brands, which includes access to many of Lifetime’s brands and to its product development and global sourcing capabilities, will enable GSI to enhance its growth and profitability, and to reinforce its position as a leading supplier of high quality, innovative housewares products to retailers in Brazil and other parts of South America.”

The investment will have no material impact on Lifetime’s diluted earnings per share in 2011, and is expected to be accretive to the Company’s diluted earnings per share in 2012. The terms of the acquisition were not announced.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,711.81 -34.17 -0.19%
S&P 500 2,107.47 -1.16 -0.06%
NASDAQ 5,137.3810 +8.5960 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs