World Kitchen dinnerware to acquire Snapware Corporation
Kitchenware product maker World Kitchen LLC is expanding its portfolio further after agreeing to acquire storage-product manufacturer Snapware Corporation, according to the company
The deal is subject to regulatory and Mira Loma, Calif.-based Snapware’s shareholder approval, and is expected to be completed before the end of this month.
“World Kitchen is very excited to be acquiring Snapware, a successful company that has achieved double-digit growth for many years with its innovative products targeting the home-storage category,” Joe Mallof, president and chief executive officer of World Kitchen, said in a prepared statement. “World Kitchen plans to invest significantly to build Snapware's brand equity and expand distribution of Snapware products in both domestic and international markets.”
Rosemont, Ill.-based World Kitchen, a subsidiary of parent corporation WKI Holding Company, manufactures bakeware, dinnerware and cookware under many brands including Corelle, Pyrex and Revere. The company sells these products through several channels: mass merchandisers, department stores, specialty retailers and the Internet.
Privately held Snapware specializes in storage and organization solutions for the home and kitchen with brands such as Snapware, Smart Store and GlassLock.
“World Kitchen has been successfully building strategic retail partnerships with its top customers for years, and the combined technical, marketing and leadership experience of both companies will allow for mutual acceleration of productivity and sales,” she continued.
Both companies are forming a joint integration team to ensure a seamless transition during the acquisition. After the deal is finalized, Snapware will become a brand held under World Kitchen’s umbrella, our source stated.
“Short-term goals are to perpetuate a strong and unchanging presence among consumers, while hastening a smooth integration into the World Kitchen family,” she added. “Long-term goals are to utilize World Kitchen’s distribution, consumer marketing capabilities and industry expertise to not only grow Snapware’s market share, but also to aid in World Kitchen becoming the leading global housewares company in kitchen and dining solutions.”
Snapware’s entire marketing and branding strategy until this point has been designed to communicate that its products make customers’ lives simpler.
“This is a strong selling point for retailers as well, as Snapware is a high-quality, trusted brand that resonates with consumers.” the representative said. “These goals have been accomplished through traditional and new strategies both at the retail and consumer level.”
More specifically, Snapware maintains an integrated presence across a wide range of media including consumer publications like Real Simple and Martha Stewart Living; trade publications including HomeWorld Business and HFN; and broadcast outlets such as the Today Show and commercial spots in select regions.
“Additionally, social media has become an integral and very important part of Snapware’s marketing initiatives,” our source acknowledged. “The company works daily with bloggers on reviews and giveaways; maintains and continually grows a Facebook and Twitter presence; and works with online editors of traditional publications to expand visibility in that sector.”
Through these channels Snapware reaches its target market – 24-to-39-year-old women who usually have a family and are in a middle-income level.
“The company will strive to reach a younger demographic moving forward and will seek to branch out into adjacent sectors of the housewares market,” the representative stated.
She added that Snapware utilizes a strong internal marketing team, while soliciting input from other key marketing and communications experts.
World Kitchen contacts several agencies across its brands including Milwaukee, WI-based Cramer-Krasselt for its media buying and planning and Chicago-based Schawk Retail Marketing for packaging, since 2003.
The Nielsen Company reported that World Kitchen allocated $7.5 million towards national advertising in 2009. About $2.7 million went towards network television ads, about $2.4 million went towards national magazine ads and about $2 million went towards cable television ads.
Snapware currently contracts Livingston, N.J.-based Rachel Litner Associates, according to the company.
World Kitchen LLC
5500 North Pearl Street
Rosemont, IL 60018
President & Chief Executive Officer
3900 Hamner Avenue
Mira Loma, CA 91752
Chief Executive Officer