Article: Lifetime Brands branches out: LI kitchenware business buys nearly 30 percent stake in one of Mexico's largest houseware companies.

Article from:
Newsday (Melville, NY)
Article date:
June 12, 2007
Copyright

Byline: James Bernstein

Jun. 12--Lifetime Brands Inc., a manufacturer and distributor of

cutlery and kitchenware, said yesterday it has agreed to pay $21.9 million for a 29.99 percent stake in a Mexican company in an effort to expand sales in Latin and South America.

The Garden City-based Lifetime said it has agreed to take the stake in Ekco S.A.B., one of Mexico's leading houseware companies.

Jeffrey Siegel, Lifetime's chairman and chief executive, said the deal will enable the company to grow in Mexico and other parts of Latin and South America.

Lifetime said that Ecko will use the investment to finance the acquisition of ...

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