Oneida To Sell Encore Subsidiary To Bradshaw International
July 13, 2004
Oneida Ltd. has signed a letter of intent to sell substantially all of the assets of its Encore Promotions, Inc. subsidiary to Bradshaw International, Inc., and also to enter into a licensing agreement with Bradshaw. The sale is expected to be completed by July 31, 2004. Encore, based in Malta, N.Y., markets tabletop products and related home accessories to the supermarket industry. Oneida said that Encore will continue to offer Oneida-branded products to the supermarket channel under the licensing agreement between Oneida and Bradshaw. Based in Rancho Cucamonga, Ca., Bradshaw is a leading marketer and distributor of kitchenware products including the Good Cook(TM) brand. "This transaction is a very positive move. It supports Oneida's business restructuring, enabling us to focus our resources on core operations while continuing to pursue opportunities for market growth," said Peter J. Kallet, Oneida's chairman and chief executive officer.
For more information, call (315) 361-3138. Oneida's website is located at http://www.oneida.com