Business Description

OVERVIEW The Company is a Delaware corporation, incorporated on December 22, 1983. The Company designs, sources and sells branded kitchenware, tableware and other home solution products used in the home and markets its products under a number of widely-recognized brand names and trademarks, which are either owned or licensed by the Company or through retailers’ private labels and their licensed brands. The Company’s products, which are targeted primarily towards consumers purchasing moderately priced kitchenware, tableware and housewares, are sold through virtually every major level of trade. The Company generally markets several lines within each of its product categories under more than one brand. The Company sells its products directly to retailers (who may resell the Company’s products through their websites) and, to a lesser extent, to distributors. The Company also sells a limited selection of its products directly to consumers through its own websites. The Company’s product categories include two categories of products used to prepare, serve and consume foods, Kitchenware (kitchen tools, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks and bakeware) and Tableware (dinnerware, stemware, flatware and giftware); and one category, Home Solutions, which comprises other products used in the home (thermal beverageware, bath scales, weather and outdoor household products, food storage, neoprene travel products and home décor). The Company continually evaluates opportunities to expand the reach of its brands and to invest in other companies, both foreign and domestic, that own or license complementary brands. The Company has a presence in international markets through subsidiaries and affiliate companies that are based outside of the United States. In Europe, the Company operates two wholly-owned subsidiaries to sell the Company’s products in the United Kingdom (“U.K.”) and countries within the European Union. The brand development and design teams, administrative teams, and distribution for its international operations operate out of a state of the art facility in Aston, England as well as a third-party distribution facility located in Rotterdam, Netherlands. The Company also has a subsidiary in the People’s Republic of China (“China”) to supply the Company’s products to the Chinese market and subsidiaries based in Hong Kong, Australia and New Zealand to facilitate the sale of its products to the Asia Pacific region and smaller markets elsewhere in the world. The Company has a presence in Canada through a strategic alliance with a Canadian company to distribute many of the Company’s products in Canada. The Company’s top brands and their respective product categories as of December 31, 2025 are: Brand Licensed/Owned Product Category Farberware® Licensed (1) Kitchenware KitchenAid® Licensed Kitchenware Mikasa® Owned Tableware and Home Solutions Taylor® Owned Kitchenware and Home Solutions Pfaltzgraff® Owned Kitchenware, Tableware and Home Solutions Dolly Parton® Licensed Kitchenware, Tableware and Home Solutions Fred® & Friends Owned Kitchenware S'well® Owned Home Solutions Sabatier® Licensed Kitchenware Kamenstein® Owned Kitchenware (1) The Company has a royalty free license to utilize the Farberware® brand, primarily for its kitchenware products, for a term that expires in 2195, subject to earlier termination under certain circumstances. The Company sources almost all of its products from suppliers located outside the United States, primarily in China. The Company manufactures its sterling silver products at a leased facility in San Germán, Puerto Rico and fills canisters with spices and assembles spice racks at its owned distribution facility in Winchendon, Massachusetts. The Company has manufacturing operations in Mexico to manufacture certain of the Company’s products. 5 Table of Contents BUSINESS SEGMENTS The Company has two reportable operating segments, U.S. and International. The U.S. segment includes the domestic operations of the Company’s business that design, market and distribute its products to retailers, distributors and directly to consumers through retail websites. The International segment consists of certain business operations conducted outside the U.S. Additional information regarding the Company’s reportable segments is included in NOTE 12 — BUSINESS SEGMENTS of the Notes to the consolidated financial statements included in Item 15.…