Schonbek bought by Swarovski

Swarovski U.S. Holding Ltd. has acquired Schonbek Worldwide Lighting and its affiliates, company officials announced late last month.

Swarovski, a subsidiary of Swarovski International Holding, purchased a 100% interest in Schonbek in the deal that was reached Oct. 26.

Schonbek manufactures decorative crystal lighting. Swarovski produces loose crystal elements used in the fashion and interior decor industries, as well as jewelry and gift items.

“Swarovski clearly characterizes the acquisition as motivated by growth. Schonbek's capabilities and competencies are complementary to Swarovski's,” said Daniel J. Cohen, a member of the executive board of Swarovski Crystal.

No staff restructuring is planned, officials said. Schonbek's 450 employees and its Plattsburgh,N.Y., design and manufacturing facility will provide technical expertise to Swarovski as it expands into finished lighting production.

“This acquisition allows us to promote crystal as a creative material through our mastery of cutting,” Cohen said. “In addition, Schonbek's tradition of innovation and mastery of light will serve as a platform for growth in the home and interior segments.”

“I'm very excited about joining Swarovski and playing an active role to help realize the many opportunities for creativity and growth that will follow,” said Andrew Schonbek, president and former owner.

Cohen said Schonbek “has agreed to stay on as interim president for the time being. He will transition to a new role reflecting his true passion, design, (product development), innovation and creativity during the course of the next year.

“We are working together to develop the organization in a fashion that supports our ambitious growth plans,” he said.

Cohen added: “Since both Schonbek and Swarovski are closely held, family businesses, we have agreed to keep the terms of the deal confidential.”