Lifetime Brands, Inc. · NASDAQ:LCUT
Lifetime Brands — Merger or Acquisition (February 2018)
9 slides from Lifetime Brands's merger presentation, Feb 5, 2018
Slide 1: Creating a Premier Housewares Platform
253 186 45 58 174 118 55 84 168 246 100 56 CREATING A PREMIER HOUSEWARES PLATFORM
Slide 2: Important Information
IMPORTANT INFORMATION Forward-Looking Statements This presentation contains forward-looking statements, including the Company’s statements related to the proposed acquisition of Taylor and statements regarding expected benefits of the acquisition and the timing and financing thereof. Actual results
Slide 3: Strategic combination drives near- and long-term value
Strategic combination drives near- and long-term value Multiple streams of value creation Creates leading global housewares platform Highly accretive to margins on Day 1 +400 bps in EBITDA margin
Slide 4: Creates Compelling New Growth Opportunities
CREATES COMPELLING NEW GROWTH OPPORTUNITIES Substantial deleveraging will create shareholder value Takes advantage of LIFETIME Next™ and Lifetime’s tremendous infrastructure capabilities Creates competitive advantages that drive growth Leverages Lifetime’s in-house sales team Expands sales opportuni
Slide 5: Creating a Premier Housewares Platform
CREATING A PREMIER HOUSEWARES PLATFORM SCALE: Increased scale creates key advantages in today’s dynamic environment BRANDS: Adds three new leading brands into our portfolio PRODUCTS: Expansion into complementary product segments CUSTOMERS: Increased relevance at retail and partnerships in new channe
Slide 6: Key Transaction Highlights
KEY TRANSACTION HIGHLIGHTS Consideration(1) Value Creation Capital Structure Dividend Timing Aggregate purchase consideration of approximately $313 million Inclusive of synergies and the effect of the net present value of inherited tax attributes, represents a Pro Forma Adjusted EBITDA multiple of a
Slide 7: Key Governance Highlights
KEY GOVERNANCE HIGHLIGHTS Management Board of Directors Shareholder Considerations Jeffrey Siegel, currently Chairman and CEO of Lifetime Brands, will serve as Executive Chairman of Lifetime Brands Robert B. Kay, currently CEO of Filament Brands, shall become CEO of Lifetime Brands Lifetime Brands w
Slide 8: $8 Million of Identified Synergy Opportunities
$8 MILLION OF IDENTIFIED SYNERGY OPPORTUNITIES Supply Chain Sales & Marketing Overlapping G&A Consolidate warehouses and eliminate overlapping functions related to warehousing Rationalize footprint and workforce in China Utilize Lifetime’s in-house sales force to reduce costs Eliminate overlapping m
Slide 9: Closing Thoughts
CLOSING THOUGHTS Significantly accelerates Lifetime’s strategic objective to surpass $100 million in EBITDA Financially compelling transaction which is accretive to EBITDA margins and to EPS Unlocks new opportunities in the commercial channel and creates expanded International sales opportunities Pr
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