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“We are excited to proceed expeditiously with the closing of the transaction,” said Michael Psaros, managing partner of KPS. “We look forward to growing Lenox's unique portfolio of brands through innovation and cutting-edge design, and building on the company's tradition of quality and its legendary American heritage.”
“KPS made a substantial and firm offer and was the highest qualified bidder with the greatest certainty of closing quickly,” said Marc Pfefferle, chief executive officer of Lenox. “Furthermore, KPS’ commitment to provide the capital to build our brands so they can realize their full potential for sustainable growth and profitability is a great outcome for our employees, customers and vendors.”
For more information, call (267) 525-5095 or visit www.lenoxgroupinc.com.