Lifetime Brands Completes Filament Acquisition
Lifetime will continue to be headquartered in Garden City, N.Y., with a significant presence in Seattle, Wash.
Lifetime Brands, Inc. recently announced that it has completed its previously announced acquisition of Filament Brands. Effective immediately, Lifetime is led by Robert Kay, formerly chairman and CEO of Filament, as CEO. Jeffrey Siegel, formerly chairman and CEO of Lifetime, is now executive chairman. Ronald Shiftan continues as vice chairman and chief operating officer, and Daniel Siegel will continue as president of Lifetime. Tim Simmone, formerly chief operating officer of Filament, has become chief integration officer.
In addition, the Lifetime Brands board of directors will expand to include Kay, Bruce G. Pollack and Michael P. Schnabel. Pollack and Schnabel serve as, respectively, managing partner and managing director of Centre Partners Management, LLC. Lifetime will continue to be headquartered in Garden City, N.Y., with a significant presence in Seattle, Wash. The company’s regional facilities around the world will be maintained.
“We are excited to complete this transformational transaction, which creates a company with the number-one position in key product areas, a diversified customer base with marquee partnerships, and a robust product development team and pipeline,” said Siegel.
According to Kay, “Lifetime Brands is well-positioned with the scale and capabilities to bring even more great ideas to market and continue to drive significant value creation over the long term. I look forward to leading the newly combined team as we continue to invest in our world-class brands and grow the business.”
For more information, visit www.lifetimebrands.com.