Drink this in: Lifetime buys S’well
Lifetime Brands, Inc., a global provider of homeware products, announced that it has acquired the business and certain assets of Can’t Live Without It (d/b/a S’well Bottle). Terms of the acquisition were not disclosed.
“We are extremely pleased to welcome the S’well brand to our portfolio. S’well originated the category of sustainable hydration products and has consistently been a design, feature and product innovator,” said Rob Kay, CEO at Lifetime. “The brand is a perfect fit for our growing and successful hydration and storage categories, where we have already made great progress growing our BUILT brand.”
Founded in 2010, S’well is a global designer, wholesaler and retailer of reusable, vacuum-insulated products, said the company. It is best known for creating the first, reusable hydration fashion accessory.
“S’well’s established e-commerce presence will expand our direct-to-consumer offering and its significant corporate partnership business will open up a new and attractive channel for Lifetime,” said the CEO.
“Additionally, S’well’s recognition as a leader in sustainability helps reinforce our commitment in this important area. We expect this highly complementary addition to our portfolio to have an accretive impact on our earnings beginning in 2022.”
Sarah Kauss, founder of S’well, will oversee the transition to Lifetime Brands and continue in an advisory role.
Kauss said, “I’m so proud of what S’well has accomplished over the years. We created a movement around reusables, helped displace more than four billion single-use plastic bottles and touched millions of lives.”
The founder said, “With this transition into the Lifetime family, the S’well brand will continue to deliver beautiful, innovative products while being a force for good.”
Lifetime said that once fully integrated its operations, a process expected to be completed in the second quarter of 2022, S’well will contribute approximately $4.5 million in annualized EBITDA.