Waterford - New Owner Outlines Plans To Grow

Waterford Wedgwood's new owner intends to expand the luxury crystal & china group through the acquisition of rivals, its CE said 26 March 2009. New York-based private equity fund KPS Capital formally acquired most of the group's assets out of receivership on 27 March 2009 through a new vehicle, WWRD Holdings. It also named former L'Oréal executive, Pierre de Villeméjane as CE of the new business. Mr Villeméjane held the same role at Speedline Technologies, a former KPS investment in the US, as well as working in the UK & France. He said the new owners intend to grow Waterford organically by buying up rivals & added it had already provided for new acquisitions in the bank financing used to buy the group.