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Steelite International Announces Acquisition of Walco Stainless

4 October 2022

New Castle, PA. -- Steelite International ("Steelite" or the "Company"), the world's leading supplier and manufacturer of award-winning tabletop, buffet, and lighting solutions to the global hospitality industry, announced today the acquisition of Walco Stainless ("Walco"), an independent division of the Utica Cutlery Company. Terms of the transaction were not disclosed.

Established in 1910, Walco is a deeply rooted and highly respected supplier of high-end flatware, steak knives, holloware and buffet products to the U.S. hospitality market. With over 100 years of history and workmanship, Walco has been at the forefront of developing innovative and high-quality designs that have shaped the foodservice industry.

"The Walco name has become synonymous with quality, dependability, and service,” said Steelite President and CEO John Miles. “Adding Walco to the Steelite portfolio of brands is a testament to our continued commitment to provide a full suite of innovative, on trend products to our hospitality partners to help create truly memorable event and dining experiences for their patrons. This acquisition makes Steelite the largest flatware supplier to the North American hospitality industry, and our robust global infrastructure provides the ideal platform to take the Walco brand and further grow internationally."

Steelite International is owned by Arbor Investments, a specialized private equity firm that focuses exclusively on acquiring premier companies in food, beverage, and related industries. Arbor announced the acquisition of Steelite in December 2019 and has made significant investments to grow the business both organically and through acquisitions.

“The acquisition of Walco marks the fifth add-on to the Steelite platform and fortifies the Company’s position as the clear market leading supplier to the global hospitality industry across all major tabletop categories,” said Brody Lynn, Partner at Arbor. “Steelite’s unwavering dedication to serving its customers has been the catalyst for tremendous growth post-pandemic and strengthened the Company’s position as the go-to partner for foodservice operators around the world.”

About Steelite International

Headquartered in New Castle, PA, Steelite International is the leading designer, marketer, manufacturer, and supplier of award-winning tabletop, buffet products and lighting solutions for the global hospitality industry, selling products into over 50,000 end-user locations across 140 countries. The Company manufactures products out of two facilities located in Stoke-On-Trent, UK and Manlius, NY, totaling 600,000 sq. ft., operates 16 first class showrooms around the globe and sources products from 17 different countries.

Steelite's core brands include Steelite Distinction & Performance, William Edwards, D.W. Haber, Creations, Folio, Varick, Homer Laughlin, Hall China, Hollowick and Aspen Drinkware. In addition to its core brands, Steelite distributes such prominent brands as Mogogo, Rona 5-Star Glass, Bormioli Rocco, Rene Ozorio, Robert Welch, Royal Porcelain, Robert Gordon Pottery, WNK, Anfora, Delfin, and Strahl.

Steelite is committed to providing the best in functionality and design while minimizing the effect on our environment. For more information, visit www.steelite.com

About Arbor Investments

Founded in 1999 with offices in Chicago and New York, Arbor Investments is a specialized private equity firm focused exclusively on acquiring premier companies in food, beverage and related industries.To date, the firm has acquired or invested in over 80 food & beverage companies in North America. www.arborpic.com