The owner of the Pyrex glass brand has been acquired by a European private equity firm.
International Cookware Group and its subsidiaries were sold to London-based Kartesia last week.
The International Cookware Group designs, manufactures and distributes cookware equipment, primarily made of borosilicate glass.
It is primarily sold under the iconic Pyrex brand, which International Cookware commercialises across EMEA under an exclusive licencing agreement granted by Corning Inc and Corning Limited.
The group has also developed its own cookware brand, Ôcuisine, which has a large range of products distributed throughout the world. It is located in Châteauroux, France and its manufacturing plant is set to celebrate its 50th anniversary this year.
It said it has benefitted from favourable market trends, as increased demand for locally produced, high quality glass reflects health,environmental and economic concerns related to plastic use.
Damien Scaillierez, Managing Partner at Kartesia, said: “The International Cookware Group is one of the most iconic French manufacturing companies.
“Having developed real technical expertise in developing high quality products and a history of new product development has allowed the group to continuously increase its market share.”
He added: “Working together in this transaction will enable the group to face the highly unusual current health and economic environment with greater security.”