The FINANCIAL — NIB has provided a EUR 50 million, seven-year-maturity loan to the Finnish consumer goods company Fiskars Oyj Abp for financing the acquisition of the luxury home and lifestyle brands group WWRD.
The acquisition of WWRD adds to Fiskars’ portfolio internationally recognized luxury brands in the tableware, giftware and home décor industries. WWRD includes names such as Waterford, Wedgwood, Royal Albert, Royal Doulton and Rogaška, according to NIB.
The acquisition was completed in early July 2015. It will foster Fiskars’ transition to a global leader in the premium home and lifestyle products sector by opening up new markets in North America and in the Asia-Pacific region.
“Acquiring a portfolio of globally renowned brands will support Fiskars’ growth strategy and create a strong presence for its highly regarded Scandinavian design products, especially in the United States and United Kingdom”, says Henrik Normann, NIB President & CEO.
The Fiskars Corporation is a leading branded consumer goods company housing global brands such as Fiskars, Iittala, Gerber and Royal Copenhagen. The company employs around 8,600 people in 30 countries. It was established as an ironworks in a small Finnish village in 1649.