Wilton Brands takes the cake -- then shows you how to decorate it. The company's Wilton Enterprises subsidiary is a leading maker of food crafting products, offering cake decorating items and bakeware under the Performance Pans, Candy Melts, and Cupcakes 'N More brands. It also holds classes in cake decoration and manufactures teakettles and cookware through its Copco division. Outside the kitchen, Wilton is home to EK Success Brands, which produces scrapbooking supplies and crafting products under the Jolee's, Martha Stewart Crafts, Paintworks, Inkadinkado, Dimensions Crafts, and K&Company names. Wilton Brands is a subsidiary of Wilton Holdings, which is owned by TowerBrook Capital and Deutsche Bank Trust.
Wilton Holdings ran into financial trouble in late 2009, when its creditors filed an involuntary Chapter 11 bankruptcy petition over about $210 million in overdue debt. The petition did not include Wilton Brands, but it did prompt Wilton Holdings to restructure itself. When negotiations with creditors concluded, control of Wilton Holdings (and Wilton Brands) shifted from private equity firm GTCR Golder Rauner to TowerBrook Capital Partners. GTCR Golder Rauner had owned the company since 2007, when it merged Wilton Industries' operations with EK Success and Dimensions Holdings to form Wilton Brands.
In December 2009, just two weeks after the restructuring was completed, Richard Conti resigned as CEO. The company tapped Jerry Levin to take the reins as chief executive, in addition to his duties as chairman, in early 2010.
The company looks to benefit as Americans have turned their attentions homeward to get through tough economic times. Sales of kitchen housewares have risen in the US in recent years as more consumers have embraced home-cooked meals (including baked treats) as a means of saving money. – less