Lifetime Brands Inc. recently announced it has acquired a 40% equity interest in GS Internacional S/A (GSI), a leading wholesale distributor of branded housewares products in Brazil. GS Internacional markets dinnerware, glassware, home décor, kitchenware and barware to more than 7,000 customers, including major department stores, housewares retailers, and independent shops throughout Brazil. The company’s principal office and distribution facilities are located in Serra, State of Espirito Santo, which is close to Vitória, Brazil’s largest container port. GSI also maintains a showroom and offices in São Paulo.
“This investment represents another step in executing our strategy to accelerate our growth and to strengthen our business by investing in successful companies in partnership with strong local management teams,” said Jeffrey Siegel, chairman, president, and CEO of Lifetime. “We are impressed by GSI and the quality and commitment of its management team, led by Paulo Soares. We look forward to working with Paulo to build GSI into the preeminent housewares company in South America.”
For more information, visit www.gsnet.com.br