Lenox Sold to Different Buyer

Tableware and collectibles merchant Lenox Group was sold in February, as previously reported. But the buyer was actually not private equity firm KPS Partners, which had won a bankruptcy auction to buy Lenox; it was private investment firm Clarion Capital Partners.

Terms of the new deal were not disclosed, but it is believed to be valued at about $100 million. It includes the Lenox, Dansk, Gorham and Department 56 brands; KPS Partners’ bid did not include the Department 56 business.

Lenox Group, which had been looking for a buyer for more than a year, filed for Chapter 11 in November. The court approved the Clarion bid after the bidding process was reopened during a hearing on Feb. 25.

Peter Cameron, a former CEO of Waterford Wedgwood and All-Clad Metalcrafters, will become CEO of Lenox after the transaction closes, which should be sometime in March.

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