December 22, 2017 / 1:13 PM / 6 months ago

BRIEF-Lifetime Brands To Acquire Filament Brands

Dec 22 (Reuters) - Lifetime Brands Inc:

* LIFETIME BRANDS TO ACQUIRE FILAMENT BRANDS

* LIFETIME BRANDS INC - ‍TRANSACTION EXPECTED TO BE MEANINGFULLY ACCRETIVE TO NORMALIZED EPS IN FIRST FULL YEAR AFTER CLOSE​

* LIFETIME BRANDS INC - TRANSACTION VALUES FILAMENT AT AN ENTERPRISE VALUE OF APPROXIMATELY $313 MILLION

* LIFETIME BRANDS INC - ‍SHAREHOLDERS OF FILAMENT, LED BY CENTRE PARTNERS, TO OWN 27% OF LIFETIME​

* LIFETIME BRANDS INC - LIFETIME EXPECTS TRANSACTION TO BE ACCRETIVE TO EBITDA MARGINS BY APPROXIMATELY 400 BASIS POINTS

* LIFETIME BRANDS - NEW MANAGEMENT TEAM TO BE LED BY ROB KAY AS CEO

* LIFETIME BRANDS - INTENDS TO FUND CASH PORTION WITH PROCEEDS FROM NEWLY COMMITTED $275 MILLION SENIOR SECURED TERM LOAN & A $150 MILLION NEW ASSET BASED LOAN

* LIFETIME BRANDS SAYS WILL CONTINUE TO BE HEADQUARTERED IN GARDEN CITY, NEW YORK

* LIFETIME BRANDS INC - UPON COMPLETION OF TRANSACTION, CURRENT LIFETIME CEO JEFFREY SIEGEL WILL BECOME EXECUTIVE CHAIRMAN OF CO

* LIFETIME - UNDER TERMS, KAY & 2 REPRESENTATIVES OF CENTRE PARTNERS, BRUCE POLLACK & MICHAEL SCHNABEL TO JOIN CO'S BOARD, EXPANDING BOARD TO 13 MEMBERS Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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