The Oneida Group has sold the majority of its food service business, which markets flatware, dinnerware and barware, to Crown Brands, a distributor of commercial grade smallware, bakeware, cookware, beverageware, and other products to the food service industry.
The transaction closed on January 28 and terms were not disclosed.
Oneida said it will continue to sell Anchor Hocking glassware to the food service industry and will increase sales support in this channel. The company, which is in the process of moving distribution from Savannah, GA, back to Lancaster, OH, also plans to expand plant production capacity to better service and support growth.
The transaction follows The Oneida Group’s recent announcement that the flagship Oneida retail flatware business would return to the company, ending a licensing arrangement that existed since 2009. The company said it also plans to expand its specialty glass sales to meet growing demand in the wine and spirits industry.
“With our overall financial position continuing to strengthen, we have been exploring strategic initiatives to improve operations and position the company for future growth and success,” said Mark Eichhorn, CEO of The Oneida Group. “This transaction presented a tremendous opportunity for both The Oneida Group and Crown to play to our respective market strengths, enabling The Oneida Group to heighten our focus on re-igniting our retail flatware and glassware business and grow our specialty business-to-business glassware division, while allowing Crown to expand its already robust, industry-leading food service product offerings.”