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Home BUSINESSWedgewood pottery has new Finnish owner in 437-mln-dollar deal
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Mon, 11 May, 2015 09:16:34 PM
FTimes-Xinhua Report, May 11

Britain's world-famous Wedgwood pottery, established 250 years ago, has been bought by a Finnish rival in a deal worth 283 million pounds (437 million U.S. dollars), it was announced Monday.

     The swoop for the pottery company comes as the finishing touches are being put to a 34-million-pound development which in July will see the opening of a "World of Wedgewood" visitor attraction and Wedgewood Museum at the pottery company's home base in Staffordshire.

     The new attraction is expected to attract 175,000 visitors a year who will be offered tours of the pottery workshop. It is thought the venture will boost sales of Wedgewood pottery by 20 percent.

     Meanwhile, Finnish group, the Fiskars Corporation, announced Monday it was going to buy the WWRD group of companies which owns the historic Wedgwood, Waterford, Royal Doulton and Royal Albert pottery brands, as well as the Rogaska brand of glass crystal ware.

     The sale comes six years after Waterford Wedgwood was placed in receivership. Fiskars, established in 1649, struck the deal to buy WWRD with U.S. private equity firm KPS Capital Partners.

     Fiskars' CEO Kari Kauniskangas said in a statement issued Monday: "We are delighted to be bringing together WWRD's portfolio of iconic luxury home and lifestyle brands with Fiskars' highly regarded living brands of Iittala, Royal Copenhagen, Arabia and Rorstrand, which are renowned for their Scandinavian design and heritage."

     "Through the acquisition, we will create a strong presence for the Fiskars Living business in the U.S. and further enhance Fiskars' market position in Europe and Asia-Pacific," added Kauniskangas.

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