Lifetime Brands, Inc. has acquired the Copco product line from Wilton Industries, Inc. Founded in 1960, Copco sells a wide variety of thermal and hydration beverageware, tea kettles and kitchen organization products.
Jeffrey Siegel, Lifetime’s chairman and CEO, said, “Copco has a rich history as a leader of high-end design and innovation in the important thermal and hydration beverageware category, and in the kitchen.” He further noted that Copco has had double-digit growth in the beverageware segment.
Siegel continued, “Like the three kitchen brands we recently acquired from Focus Products Group— Amco Houseworks, Chicago Metallic and Swing-A-Way— the Copco brand fits perfectly into Lifetime’s platform and we have the resources to quickly enhance its performance. Moreover, since Copco branded products are in categories in which Lifetime already is well-established, we expect the acquisition to provide immediate gross margin dollars without any accompanying increase in selling, general and administrative expenses.”
The acquisition is expected to be accretive to the company’s diluted earnings per share in 2016. Terms of the acquisition were not disclosed.