Louisville, KY-based Brown-Forman Corp., best known as the maker of Jack Daniel’s and Southern Comfort, agreed to sell $465 million china and crystal subsidiary Lenox to Department 56 for $190 million in cash. The deal is expected to close in the fall.
In addition to its eponymous brand, Lenox includes Dansk tableware and giftware; Gorham silver, crystal, and china; and Kirk Stieff silver and pewter products. The company sells to retailers and other resellers as well as directly to consumers via its Lenox Collection catalog. The sale does not include Lenox’s headquarters in New Jersey and its English subsidiary. Brown-Forman is divesting Lenox so that it can focus on its core beverages business.
For Department 56, best known for collectible lighted village buildings, ceramic figurines, and other giftware, the deal nearly quadruples its sales, which were $165 million in its most recent fiscal year.