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.