24 Feb 2020
EUR 75 million
Industries and services
|Date of agreement:||21 Oct 2015|
|Amount in EUR:||EUR 50 million|
|NACE sector / loan type:||Manufacture of fabricated metal products|
|Business area:||Industries and services|
The loan is provided to partly finance Fiskars’ acquisition of the WWRD group, a leading global provider of luxury lifestyle brands for the tableware, giftware and home décor industries.
The acquisition of WWRD is expected to open up new geographical markets to the Fiskars Corporation, as WWRD maintains an extensive network of sales and support operations in luxury and premium department stores throughout the U.K., Ireland, the U.S., China, Japan and Australia. The acquisition was completed on 1 July 2015.
Fiskars is a leading branded consumer goods company housing global brands such as Iittala, Fiskars, Gerber and Royal Copenhagen. The company employs around 8,600 people in 30 countries.
The acquisition of the WWRD group will support Fiskars’ growth strategy by widening its product portfolio and allow the company a strong presence in the largely untapped U.S. and U.K. markets.
The acquisition of the WWRD group comprises four production plants in the United Kingdom, Slovenia, Indonesia and Ireland as well as a total of 226 retail stores. Based on NIB’s classification system, the production sites are considered medium-risk operations. Environmental Due Diligence assessments have been carried out on the sites by a third-party consultant. No major environmental concerns or potential interruptions of production due to environmental reasons have been identified.