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FINLAND’S FISKARS SAYS it has agreed to buy luxury home goods maker Waterford Wedgwood, whose brands include Waterford crystal and Wedgwood china, for €390 million.
The Finnish home, garden and outdoor products maker said the purchase of WWRD from KPS Capital Partners, a New York-based private equity firm, is part of its strategy to become a leader in the premium home and lifestyle products market.
KPS has bought the company for €107 million after it went into receivership in 2009.
Last year, seven thousands private donations helped save a historic collection of Wedgewood pottery by raising €3.5 million to save the museum in Britain where it was being kept. The company’s massive pension debt had threatened the future of the museum.
Fiskars Corp., which also owns the Ittala and Royal Copenhagen brands, said the deal is subject to an antitrust filing in the US and is expected to close in July.
WWRD has 226 stores and employs 3,800 people in 14 countries. Its brands also include Royal Doulton, Royal Albert and Rogaska.
- Additional reporting from AFP.
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Mad to think all the Yanks still go into the shop in Waterford and buy crystal made in Asia and none the wiser that’s it not actually got anything to do with Waterford at all. Over the years, every single thing we made in this country has just been allowed to be stripped and sold and the workers told “Ah sure won’t you get a few bob from the redundancy?”
They do still blow and hand cut crystal in the new factory/ shop in Waterford.. It’s also sold in the shop.. Most of it is still made elsewhere do.. But the tradition still continues.. They just took on apprentices recently also.. So it’s not as negative as you made it out there in fairness..
Theres 50000 pieces a year made in Waterford. All trophies are still made in Waterford. Hopefully new owners will bring back stemware production to Ireland
I stand corrected.
Laughing all the way to the bank boi!
happily, the taxpayer bailed out the pension fund for the extremely wellpaid staff.
Some glassblowers used to get stretch limos home from work everyday at 4pm when they knocked off.
Ah now
Just wait for it….
One day a man or woman (less likely) will come and lead the idiots of humanity out of the wilderness otherwise someone is definitely going to lose the plot with this abhorrent obnoxious capitalist behaviour and really do some horrible damage. VILE VILE VILE. Accountancy is the cancer of society.
Small typo, “and was bough by kps”
What about this “several thousands private donations”?
Doh! “seven thousands”
have your say