Lifetime Brands Acquires Stake in GS Internacional PR

Lifetime Brands Inc. a leading global provider of kitchenware, table-top, home decor and lifestyle products, today announced it has acquired a 40% equity interest in GS Internacional S/A (“GSI”). GSI is a leading wholesale distributor of branded housewares products in Brazil.

The company markets dinnerware, glassware, home decor, kitchenware and barware to over 7,000 customers, including major department stores, housewares retailers and independent shops throughout Brazil.

The company’s principal office and distribution facilities are located in Serra, State of Espirito Santo, close to Vitoria, Brazil’s largest container port. GSI also maintains a showroom and offices in Sao Paulo.Jeffrey Siegel, Lifetime’s Chairman, President and Chief Executive Officer commented,  

This investment represents another step in executing our strategy to accelerate our growth and to strengthen our business by investing in successful companies in partnership with strong local management teams. We are impressed by GSI and the quality and commitment of its management team, led by Paulo Soares.   Paulo Sergio G. Soares, GSI’s founder and Chief Executive said,

“Our partnership with Lifetime Brands, which includes access to many of Lifetime’s brands and to its product development and global sourcing capabilities, will enable GSI to enhance its growth and profitability, and to reinforce its position as a leading supplier of high quality, innovative housewares products to retailers in Brazil and other parts of South America.”