This takeover is said to confirm International Cookware’s ambition to become a leader in the field of kitchen glassware and tableware, as well as a major French manufacturer.
It is planning investments of approximately €17 million by 2024 to innovate, ensure compliance with standards and improve productivity at Duralex.
José-Luis Llacuna, CEO of International Cookware said: “With this takeover, Pyrex is ensuring a solid future for Duralex, reinforcing French production of kitchen glassware and tableware and building a major player that aims to become the world leader in the sector.
“The €17 million budget has been allocated to increase the factory’s production capacity to allow a return to profitability, the resumption of recruitment at the site and improvement in the service level to bring it in line with customers’ expectations.“
International Cookware has the target of doubling the turnover of Duralex by 2024.
Following this transaction, Pyrex and Duralex will remain independent companies pursuing their development within their respective frameworks.
International Cookware achieved turnover of more than €107 million in 2020 from products sold in 140 countries.
It forecasts overall turnover growth in 2021 thanks to the development of new ranges as well as strong international development.