FM&Co. assisted in identifying a wide range of strategic and financial buyers on a worldwide basis, isolating a short list of interested parties, initiating negotiations, and advised on final the transaction structure and closing.
Through the process, FM&Co. gained in-depth knowledge of the resin furniture industry and relationships with its key players.
FM&Co.’s knowledge of the consumer goods industry, global reach throughout the US and international markets, and experience in executing similar M&A transactions were critical in consummating a satisfactory transaction for Fiskars.
About Fiskars Corporation
Fiskars Corporation, headquartered in Helsinki, Finland, is a global manufacturer of branded consumer goods and industrial products. Through its US-based subsidiary Fiskars Brands, Inc., it is the world’s leading manufacturer of scissors, gardening tools and cutlery, as well as other consumer products sold under the brand names including Fiskars® Gerber Legendary Blades®, Royal® Floor Mats, Home Leisure, Planterra®, Cool in the Shade™. Power Sentry®, Newpoint®, Montana®, Raadvad, Sankey and Ebert. Fiskars reported 2003 Sales of $700 million. Fiskars’ current strategy is to focus on its branded core consumer products and therefore sought to divest its non-core Syroco garden furniture division.
About Industrias Vassallo, Inc.
Founded in 1962, Industrias Vassallo, Inc. manufactures and distributes plastic products including PVC pipe and fittings and resin furniture. Products include electrical, irrigation, pressure, sewer, and drain waste and vent pipes and fittings; household articles such as flowerpots, leaf rakes, outdoor plastic furniture, umbrella bases, and water tanks; road barriers; and plastic products for the sport and leisure industry. Markets include the US, Central and South America and the Caribbean. Vassallo is based in Coto Laurel, Puerto Rico. With the acquisition of Syroco, Vassallo will significantly increase its presence in the US with annual sales projected to increase to approximately $100 million.
