GARDEN CITY, N.Y.--(BUSINESS WIRE)--Feb. 28, 2018--
Lifetime Brands, Inc. (NasdaqGS:LCUT) (“Lifetime” or “the Company”), a
leading global provider of branded kitchenware, tableware and other
products used in the home, announced today that at Lifetime’s Special
Meeting of Stockholders (the “Special Meeting”), Lifetime’s stockholders
voted to approve the Company’s issuance of shares of Lifetime common
stock contemplated in connection with the consummation of Lifetime’s
previously announced acquisition of Filament Brands (“Filament”). The
final vote results will be reported on a Form 8-K filed with the
Securities and Exchange Commission.
“We are pleased with the outcome of today’s vote and thank all of our
stockholders for their support,” said Jeffrey Siegel, Lifetime’s
Chairman and Chief Executive Officer. “The Lifetime Board and management
team strongly believe in the strategic merits and value provided by the
Filament acquisition, which will position Lifetime with the scale,
brands and capabilities to compete and win in today’s dynamic global
environment, while driving strong performance and value for
stockholders. We look forward to completing the transaction shortly and
delivering its benefits to all of our stakeholders.”
With the required approvals having been received by Lifetime
stockholders, the acquisition is expected to be completed on or about
March 2, 2018.
About Lifetime Brands, Inc.
Lifetime Brands, Inc. is a leading global provider of kitchenware,
tableware and other products used in the home. The Company markets its
products under well-known kitchenware brands, including Farberware®,
KitchenAid®, Sabatier®, Amco Houseworks®, Chicago™ Metallic, Copco®,
Fred® & Friends, Kitchen Craft®, Kamenstein®, Kizmos™, MasterClass®,
Misto®, Mossy Oak®, Swing-A-Way® and Vasconia®; respected tableware and
giftware brands, including Mikasa®, Pfaltzgraff®, Fitz and Floyd®,
Creative Tops®, Empire Silver™, Gorham®, International® Silver, Kirk
Stieff®, Towle® Silversmiths, Tuttle®, Wallace®, Wilton Armetale®, V&A®
and Royal Botanic Gardens Kew®; and valued home solutions brands,
including Bombay®, BUILT NY® and Debbie Meyer®. The Company also
provides exclusive private label products to leading retailers
worldwide. The Company’s corporate website is www.lifetimebrands.com.
Lifetime’s statements in this press release related to the acquisition
of Filament contain forward-looking statements, including statements
regarding expected benefits of the acquisition and the timing and
financing thereof. Actual results could differ materially from those
projected or forecast in the forward-looking statements. Factors that
could cause actual results to differ materially include the following:
the conditions to the completion of the transaction may not be
satisfied; debt financing may not be available on favorable terms, or at
all; closing of the transaction may not occur or may be delayed, either
as a result of litigation related to the transaction or otherwise; the
parties may be unable to achieve the anticipated benefits of the
transaction; revenues following the transaction may be lower than
expected; operating costs, customer loss, and business disruption
(including, without limitation, difficulties in maintaining
relationships with employees, customers, and suppliers) may be greater
than expected; Lifetime may assume unexpected risks and liabilities;
completing the acquisition may distract Lifetime’s management from other
important matters; and the other factors discussed in “Risk Factors” in
Lifetime’s Annual Report on Form 10-K for the fiscal year ended December
31, 2016 and subsequent filings with the SEC, which are available at http://www.sec.gov.
Lifetime assumes no obligation to update the information in this
communication, except as otherwise required by law. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date hereof.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180228006009/en/
Source: Lifetime Brands, Inc.
Lifetime Brands, Inc.
Laurence Winoker, Chief Financial
Katcher / Matt Sherman / Andrew Squire
Joele Frank, Wilkinson