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UPDATE: Reed & Barton Buys Lunt Assets

By Staff -- Gifts and Dec, 2/11/2010 12:00:00 AM

Greenfield, MA – Lunt Silversmiths Inc., which declared Chapter 11 bankruptcy in mid-December 2009, Lunt flatware has been acquired by fellow silver manufacturer Reed and Barton Corp.

“The combination of Lunt’s distinctive product line with Reed & Barton’s broad spectrum of product offerings will provide our merchants and customers with a greater diversity of options,” said Tim Riddle, president and CEO of Reed & Barton. “With the acquisition complete, we can now concentrate on fast-tracking production and rebuilding inventory levels to provide the Lunt customer with reliable product availability and customer service.”

Reed & Barton originally made the offer to buy Lunt’s assets, including inventory, finished goods, work in process, components, raw materials, spec samples, tools, molds, intellectual property, sales collateral materials, customer and supplier records, and UPC numbers in January, with a deadline for higher offers of February 8.

In its bankruptcy filing, Lunt listed assets and liabilities that are essentially equal at $3+million each.

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