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Company behind Waterford crystal sold for €390 million

Waterford Wedgwood went into receivership in 2009 and was bough by KPS which today agreed the sale.

FINLAND’S FISKARS SAYS it has agreed to buy luxury home goods maker Waterford Wedgwood, whose brands include Waterford crystal and Wedgwood china, for €390 million.

The Finnish home, garden and outdoor products maker said the purchase of WWRD from KPS Capital Partners, a New York-based private equity firm, is part of its strategy to become a leader in the premium home and lifestyle products market.

KPS has bought the company for €107 million after it went into receivership in 2009.

Last year, seven thousands private donations helped save a historic collection of Wedgewood pottery by raising €3.5 million to save the museum in Britain where it was being kept. The company’s massive pension debt had threatened the future of the museum.

Fiskars Corp., which also owns the Ittala and Royal Copenhagen brands, said the deal is subject to an antitrust filing in the US and is expected to close in July.

WWRD has 226 stores and employs 3,800 people in 14 countries. Its brands also include Royal Doulton, Royal Albert and Rogaska.

- Additional reporting from AFP. 

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