Garden City-based Lifetime Brands Inc. has acquired Fitz and Floyd, a designer and manufacturer of handcrafted ceramic tabletop products in Newtown, Pennsylvania.
Under the agreement, Lifetime Brands, a global provider of branded kitchenware, tableware and other products, including Farberware and KitchenAid, acquired the business and assets of Fitz and Floyd. Terms of the acquisition were not disclosed.
Fitz and Floyd’s president and chief executive, Steven R. Baram, will join Lifetime’s Tabletop Division as president of the Fitz and Floyd Division.
Founded in 1960, Fitz and Floyd designs, sources, markets and distributes Fitz and Floyd and other branded giftware, dinnerware, tableware, decorative accessories and ceramic collections. The products are sold at big box retailers, department stores, specialty kitchen and gift shops and e-commerce websites.
“The Fitz and Floyd brand fits perfectly into Lifetime’s platform and we have the resources quickly to enhance its performance,” Lifetime’s chairman and chief executive Jeffrey Siegel said in a statement. “Moreover, since Fitz and Floyd branded products are in categories in which Lifetime already is well-established, we expect the acquisition to be accretive in 2017.”