Enesco Group, Inc., a leader in the giftware, collectible and home decor industries, announced on 22 July 2004 the acquisition of Dartington Crystal Limited by Enesco Limited, Enesco“s UK subsidiary….
Enesco Group, Inc., a leader in the giftware, collectible and home decor industries, announced on 22 July 2004 the acquisition of Dartington Crystal Limited by Enesco Limited, Enesco“s UK subsidiary. Dartington Crystal designs and manufactures a full range of uncut crystal products, such as glassware, bowls, vases, candleholders and giftware, and is headquartered in Torrington, Devon, southwest England. The company“s products are currently sold through department stores and upmarket specialty retail outlets. Enesco Limited paid approximately USD 7 million in cash to acquire substantially all of the assets of the firm. Dartington Crystal generated sales of approximately USD 16.8 million in 2003. The acquisition provides Enesco with an entry point into the uncut crystal market in the UK, Europe and the United States. According to Enesco, market trends in the UK are moving towards contemporary formats and away from the traditional patterned designs, creating a significant growth opportunity for Enesco. The UK glassware manufacturing industry is renowned for its quality and has a number of prestigious brands. Exports are primarily to the US and include high-end home decor and jewelry retailers. “We are delighted to have secured the acquisition of Dartington Crystal,” said John Hammond, Chairman of Enesco Limited. “Dartington is a highly respected brand in the industry, and this acquisition will allow us to build a new crystal glass division around these innovative products.” “Dartington“s high-end crystal products will be an excellent compliment to Enesco Limited“s current offerings,” said Tom Bradley, interim CEO of Enesco Group, Inc. “Strategically, this acquisition creates an exciting opportunity for Enesco, as we continue to penetrate the home decor and lifestyle market.”