Lenox Group and Clarion Capital Partners have announced the asset sale of Lenox, a US china, tabletop and giftware manufacturer and marketer, to a group led by Clarion.
Lenox Group and Clarion Capital Partners have announced the asset sale of Lenox, a US china, tabletop and giftware manufacturer and marketer, to a group led by Clarion.
The ‘new Lenox’, which includes the Lenox, Dansk, Gorham and Department 56 brands, will now operate outside of Chapter 11 bankruptcy.
Marc Utay, founder and managing partner of Clarion Capital Partners, says: ‘Lenox, Dansk, Gorham and Department 56 have very loyal customer bases. The New Lenox has a clean balance sheet and a significant infusion of new capital to build and strengthen these trusted American brands. Clarion is committed to bringing these iconic American brands to new generations of consumers.’
Former Waterford Wedgwood and All-Clad Metalcrafters chief executive Peter Cameron assumes the position of chairman and chief executive of New Lenox.
Cameron says: ‘I look forward to working with the dedicated employees of Lenox as they begin their employment with the New Lenox. Lenox employees have worked hard over the past two years to improve their operations and product development processes. These improvements provide an enormous competitive advantage as we move forward into future development of our great American brands. We are in a position to hit the ground running, and look forward to continuing the Lenox heritage and tradition through this century.’
Clarion Capital Partners, is a New-York based private investment firm. The firm invests in consumer products, business services, healthcare services, specialty financial services, retail and niche media and entertainment.
Lenox Group sells high quality tabletop, giftware and collectible products under the Lenox brand founded in 1889, as well as the Dansk, Gorham and Department 56 brand names. The company sells it products through wholesale customers who operate gift, specialty and department store locations in the US and Canada, company-operated retail stores and direct to consumer channels.
