Lifetime Brands (LCUT) Gains 40% Equity Interest in GS Int'l S/A

Lifetime Brands, Inc. (Nasdaq: LCUT), has acquired a 40% equity interest in GS Internacional S/A.

GSI is a leading wholesale distributor of branded housewares products in Brazil. The company markets dinnerware, glassware, home décor, kitchenware and barware to over 7,000 customers, including major department stores, housewares retailers and independent shops throughout Brazil. The company’s principal office and distribution facilities are located in Serra, State of Espirito Santo, close to Vitória, Brazil’s largest container port. GSI also maintains a showroom and offices in São Paulo.

The investment will have no material impact on Lifetime’s diluted earnings per share in 2011, and is expected to be accretive to the Company’s diluted earnings per share in 2012. The terms of the acquisition were not announced.

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