The Oneida Group, a leader in tabletop and kitchen solutions, announced it has sold the majority of its foodservice business to Crown Brands.
Crown Brands is a distributor of commercial grade smallware, bakeware, cookware, beverageware, and other products to the foodservice industry.
The transaction was completed and closed on January 28 2019, however, terms were not disclosed.
The deal follows the company’s recent announcement that the flagship Oneida retail flatware business would return, ending a licensing arrangement that existed since 2009.
The company also plans to expand its specialty glass sales to meet growing demand in the wine and spirits industry.
Mark Eichhorn, CEO of The Oneida Group, said “With our overall financial position continuing to strengthen, we have been exploring strategic initiatives to improve operations and position the company for future growth and success.
“This transaction presented a tremendous opportunity for both The Oneida Group and Crown to play to our respective market strengths – enabling The Oneida Group to heighten our focus on re-igniting our retail flatware and glassware business and grow our specialty business-to-business glassware division, while allowing Crown to expand its already robust, industry-leading foodservice product offerings.”
Tony Battaglia, CEO of Crown Brands, said: “The brands and product categories associated with this acquisition align with our long-term strategic plan to offer the highest quality, most comprehensive product portfolio to satisfy operator needs in the front of the house, kitchen/food preparation areas and the back of the house from a single source.
Since being named CEO in October of 2018, Eichhorn has accelerated efforts to increase production capacity and drive new product innovation, development and marketing and heightening the company’s focus on customer service.
The company also recently announced the appointment of Bert Filice as president and chief sales officer, Mike Hanson as senior vice president of supply chain and Mark Cymanski as vice president of procurement. All three senior executives have prior experience with the company.