John Miles, the new CEO of Steelite, said: “Having worked in the business for twenty years and served as president of the Americas division for the past eleven years, it fills me with immense pride to have made this personal investment alongside PNC Riverarch.
“Steelite International is known as the leader in the hospitality tableware industry and our goal is to continue that leadership through the introduction of new, creative and innovative products.
“We will continue the investment in the manufacturing sector to improve efficiencies, service levels and provide value added to our customers. I look forward to working with our management team to grow and improve the business.”
As a result of the acquisition, former Steelite CEO Kevin Oakes has acquired English fine bone china manufacturer, Royal Crown Derby after exiting Steelite International after a 39 year tenure, the last 10 years of which were spent as chief executive.