Acquisition Offer for Bilston & Battersea Enamels by Enesco.Business Editors ITASCA I·tas·ca A lake of northwest Minnesota. It was identified in 1832 as the source of the Mississippi River. , Ill.--(BUSINESS WIRE)--March 18, 2003 Enesco Group, Inc. (NYSE NYSE See: New York Stock Exchange :ENC ENC Encoded (File Name Extension) ENC Enclosure ENC Mime-Encoded (virus scanners) ENC Eastern North Carolina ENC Eisenhower National Clearinghouse for Mathematics and Science Education ), a leader in the giftware, collectible and home decor industry, today announced an offer for Bilston & Battersea Enamels plc through its European subsidiary, Enesco Holdings Limited. Bilston & Battersea Enamels manufactures and distributes giftware, home accessories and related products, including the high quality, hand-decorated enamels and sculptural boxes sold under the Halcyon hal·cy·on n. 1. A kingfisher, especially one of the genus Halcyon. 2. A fabled bird, identified with the kingfisher, that was supposed to have had the power to calm the wind and the waves while it nested on the sea Days Enamels and Halcyon Days Bonbonnieres brands. The company is based in Bilston, West Midlands West Midlands, former metropolitan county, central England. Created in the 1974 local government reorganization, the county embraced the Birmingham conurbation and comprised seven metropolitan districts: Walsall, Wolverhampton, Dudley, Sandwell, Birmingham, Solihull, , England. Enesco will pay approximately $4 million in cash to acquire the company and expects the acquisition to be accretive to earnings in 2003. The acquisition gives Enesco more product categories, high-end price points and entry into larger, high-end retail markets with the Halcyon Days brand. Bilston & Battersea generated sales of approximately $10 million worldwide in 2002. Enesco expects similar sales in 2003, which would enhance the company's revenue for the year. Halcyon Days Enamels are currently sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , accounting for one-third of Bilston & Battersea's sales. The Halcyon Days brands are sold to high-end retail accounts in the U.S., including Neiman Marcus Neiman Marcus U.S. department-store chain. It was founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. , Nordstroms and Scully & Scully. "Bilston & Battersea is looking to expand their distribution," said Dan DalleMolle, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Enesco. "We are looking to grow our business globally, as well as expand our current product formats and channels of distribution. Through this acquisition, we can accomplish each of those missions." Bilston & Battersea Enamels will maintain its headquarters in Bilston, operating as a subsidiary of Enesco Holdings Limited, headquartered in Carlisle, Cumbria, England. Bilston & Battersea Enamels' existing management team will remain in place after the transaction closes, which is expected in April 2003. About Enesco Group, Inc. A global leader in the gift, collectible and home decor industries for 45 years, Enesco Group, Inc. offers such notable product lines as Cherished Teddies, Mary Engelbreit, Lilliput Lane, Border Fine Arts, and NICI NICI Nijmegen Institute for Cognition and Information NICI Negative Ion Chemical Ionization NICI National Information and Communications Infrastructure NICI National Interagency Civil-Military Institute NICI National Interagency Counterdrug Institute , among others. The Company's award-winning Precious Moments figurine collection is one of the top collectible lines throughout the world. Further information is available on the Company's web site at www.enesco.com. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, and actual results could differ materially from the Company's present expectations. A description of the risk factors that could cause such material differences is set forth in the Company's 10-K for the year ended December 31, 2001, filed under the Securities Exchange Act of 1934. The Company undertakes no obligation to update or publish in the future any forward-looking information. |
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