Waterford sale deal is confirmed

The receiver of Waterford Wedgwood and the company´s UK administrators have confirmed the sale of its Irish and UK businesses, including Waterford Crystal.

The businesses are being bought by New York-based private equity company KPS Capital Partners. Agreement on the sale was announced last month, but the final deal was dependent on a number of overseas assets being bought.

On Sunday, the occupation of the Waterford Crystal visitor centre ended after a meeting of workers and former employees. They accepted proposals including the retention of around 110 full time jobs and up to 50 part-time positions at Waterford Crystal.

KPS has formed a new company called WWRD Holdings to buy the Waterford businesses. Its chief executive Pierre de Villemejane said the new owners intended to grow the company organically and through acquisitions.