Helsinki, Finland-based global consumer goods company Fiskars Oyj (HEL: FIS1V) (OTCMKTS: FKRAF) said it agreed to divest its European Ebertsankey plastics pottery business to Good(s) Factory BV, a member of the Elho Group, a European market leader in synthetic pottery and related products.
Established in 1649 as an ironworks in a small Finnish village, Fiskars has grown to be a leading consumer goods company with globally recognized brands including Fiskars, Iittala, Gerber, Wedgwood and Waterford. The company has a market capitalization of $1.61 billion.
With iconic products, strong brands and global ambitions, Fiskars’ mission is to enrich people’s lives in home, garden and outdoor. Fiskars’ products are available in more than 100 countries and the company employs around 8,700 people in 30 countries.
The Dutch Elho Group is a family-owned company owned by brothers Olaf, Harald and Rolf Elderenbosch. Their Good(s)Factory is a new young, fun and dynamic Dutch company, located in the historical factory De Gruyterfabriek in Den Bosch, the Netherlands.
“An elho pot with a beautiful plant brings happiness everywhere, whether it is placed in a New York office or in the living room of the tiniest apartment in London.” –ELHO
With over 50 years of experience in making synthetic pottery and related products, Elho is well positioned to further invest in the Ebertsankey brand and business to bring value to customers and consumers.
“Fiskars Group continuously simplifies structures and increases focus on selected businesses and brands,” the company said in a statement. “This divestment will allow Fiskars to continue to strengthen its focus on its core businesses and drive the company forward as an integrated consumer goods company.”
The sale is not expected to have a significant impact on Fiskars Corporation’s financial position or result during 2016. The deal is expected to close before the end of 2016, subject to customary closing conditions.
Photo: Olaf Elderenbosch, Elho co-owner and co-CEO.