Kartesia has participated in the acquisition of International Cookware Group and its subsidiaries, alongside its management team, from Aurora Resurgence.
International Cookware Group designs, manufactures and distributes cookware equipment, primarily made of borosilicate glass, which offers thermal shock resistance. It is primarily sold under the Pyrex brand, which International Cookware commercializes under an exclusive licensing agreement granted by Corning Inc. and Corning Limited. The company has also developed its own cookware brand, Ôcuisine, which has a large range of products distributed throughout the world, noted Kartesia.
“We are pleased to have the Kartesia team accompany us in this new transaction in order to accelerate further our growth, notably in the fields of product innovation, industrial efficiency and commercial development to even better fit ever-changing customers’ expectations in our markets,” said Jose-Luis Llacuna, president of International Cookware.
Kartesia noted that the demand for glass has been increasing in the last several years, due to health, environmental and economic concerns related to plastic use in cooking and storing, which made International Cookware Group attractive to the company.
“We are delighted to accompany International Cookware Group in this new development phase, alongside a highly competent and experienced management team which would become a key shareholder through the transaction. More specifically, working together in this transaction will enable International Cookware Group to face the highly unusual current health and economic environment with greater security,” said Damien Scaillierez, managing partner at Kartesia.