Davis Polk is advising World Kitchen in connection with its acquisition by GP Investments Acquisition Corp. in a cash and stock transaction. The enterprise value of the transaction is approximately $566 million. The transaction is subject to the approval of GP Investments Acquisition Corp.’s shareholders and the satisfaction or waiver of customary closing conditions, including regulatory approvals.

World Kitchen and its affiliates manufacture and market products worldwide through a portfolio of well-recognized and respected brands, including under the Pyrex, Corelle, Corningware, Snapware, Baker’s Secret, Chicago Cutlery and Vintage Charm trademarks. GP Investments Acquisition Corp. is a special-purpose acquisition corporation created by GP Investments in May 2015 via an IPO that raised $172.5 million in proceeds for the purpose of identifying attractive investment opportunities in the United States or Europe, with a focus on companies with long-term growth potential in the consumer goods, services and retail sectors. GP Investments, Ltd. is a leading alternative investments firm with more than 20 years’ experience in corporate investing, with a strong track record of successful equity capital market transactions, delivering strong returns and building long-lasting enterprises.

The Davis Polk corporate team includes partner Stephen Salmon, senior counsel Daniel G. Kelly Jr. and associate Max Brunner. Partner Rachel D. Kleinberg and associate Lena X. Qiu are providing tax advice. Associate Yitz Segal is providing credit advice. Counsel Cynthia Akard is providing executive compensation advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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