Costa Mesa, Calif. - October 20, 2003 -VillaWare Manufacturing Company, manufacturer of VillaWare® premier small electric kitchen appliances, cookware, and kitchen tools, announced today that it has joined forces with Tilia, Inc., manufacturer of FoodSaver® and the leader in home vacuum packaging.
RSM EquiCo, a leading global investment banking firm for the private middle market, served as exclusive financial advisor to VillaWare by initiating, negotiating and structuring the transaction. The purchase price and transaction terms were not publicly disclosed.
VillaWare designs, manufacturers and distributes a wide range of electric and non-electric professional-grade kitchen utensils and cooking equipment. Its products are distributed through leading specialty chain and independent cookware stores throughout the United States and Canada.
Robert Vitantonio, president of VillaWare, will remain with the company and will increase his involvement in product development for both VillaWare® and FoodSaver® brands. "Since 1906, when my great-grandfather patented the first hand-crank pasta maker, the business has grown consistently, guided by his founding principles of product innovation, high-quality manufacturing and excellent customer service, " said Vitantonio.
"VillaWare will continue to grow and improve with our exclusive focus on the specialty retailer trade," Vitantonio added. "Together with Tilia, both companies will draw from a very strong, common base of management resources."
FoodSaver will continue its strong brand focus on food preservation products for the mass market. The VillaWare brand will continue its expansion of unique, quality food preparation products exclusively for specialty and high-end kitchen products markets.
About VillaWare Manufacturing Company
Established in 1986, the company draws upon a family tradition in quality kitchenware dating back to 1906. Headquartered in Cleveland, VillaWare designs and manufactures specialty electric and non-electric cookware and appliances sold to upscale retail stores located throughout the U.S. It has a diversified client base consisting of leading retailers such as Williams-Sonoma, Chef's Catalog, Crate & Barrel and Neiman Marcus, and a strong following in independent gourmet cookware stores. To learn more about VillaWare, visit www.villaware.com.
About Tilia, Inc.
Located in San Francisco, Tilia, Inc. is a leading manufacturer and distributor of innovative kitchen appliances including FoodSaver Vacuum Packaging Systems. Tilia, Inc. and Tilia International, Inc. are subsidiaries of the Jarden Corporation, headquartered in Rye, NY. For more information contact Tilia at 888-233-5001 or visit www.tilia.com.
About RSM EquiCo, Inc.
RSM EquiCo is a leading global investment banking firm serving private middle-market companies throughout North America. With more than 375 professionals and support personnel, we specialize in mergers, acquisitions and divestitures for non-public companies with up to $250 million in annual revenues. Based in Costa Mesa, California, RSM EquiCo is part of RSM McGladrey Business Services, a business segment of H&R Block Inc.