Oneida Acquired by Private Equity Group
NEW YORK-Monomoy Capital Partners, a New York private equity fund, has acquired Oneida. Terms of the transaction were not disclosed.
Monomoy Capital Partners also owns glassware maker Anchor Hocking, and it said this new acquisition will provide the market with "a complete tabletop solution."
Dan Collin, a partner at Monomoy, said Oneida is one of the "world's most recognized brand names in home products," with an established network of vendors and a strong management team. "[We] will immediately act to take advantage of Oneida's multiple avenues for growth and expansion both in North America and abroad," Collin said. "A strong alliance between Oneida and Anchor Hocking will bring huge benefits to their customers and the industry as a whole."
In a statement, Jim Joseph, president and CEO of Oneida, said, "We could not ask for a better scenario: being acquired by Monomoy, well known for investing in brands and companies they believe in, combined with the privilege to work with another iconic American brand like Anchor Hocking that is a part of Monomoy's portfolio of companies. This is a unique opportunity."
The acquisition does not affect the licensing agreement between Oneida and Robinson Home Products, a press representative for Robinson said.