Polyconcept And Zippo Manufacturing Company Restructure Joint Venture

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Oct 10, 2013, 10:03 ET

BRADFORD, Pa., Oct. 10, 2013 /PRNewswire/ -- For the past 20 years, Zippo Manufacturing Co. and Polyconcept have worked together in a joint venture for the distribution of Zippo products in Austria, Benelux, France, Germany and Spain. Polyconcept and Zippo Manufacturing are pleased to announce, that an agreement has been reached according to which Zippo will take over Polyconcept's stake in Zippo Europe and take full control of the distribution of its products in those select markets in Europe.

This mutual decision is a result of changes in long term business strategies for both companies and Polyconcept and Zippo believe that this change is in their customers and shareholders best respective interests. It is anticipated that the distribution model currently in place will continue but with the added benefit of singular oversight by Zippo.

Greg Booth, President and CEO of Zippo Manufacturing said: "Over the past years Polyconcept and the Zippo Manufacturing Company have worked well together in regards to the distribution of Zippo products in Europe. As the companies have evolved, we realised that this change will contribute to deliver an enhanced service to our customers. We hold Polyconcept in the highest regards and are grateful for the opportunity to have worked together and for their contribution to Zippo's success story in Europe."

Speaking on behalf of Polyconcept, Chairman Michael Bernstein said: "Zippo has been a good friend to Polyconcept over the years and we sincerely hope to continue that friendship. We are in full support of Zippo's desire to manage the distribution of their products in this very important sales market. We wish them every success moving forward."

About Zippo
Zippo has markets in more than 160 countries and is one of the most recognized brands in the world. Based in Bradford, PA, Zippo has produced over 500 million windproof lighters, each backed by an unparalleled lifetime guarantee. In addition to fragrance, Zippo's diverse product line includes lighter accessories; butane candle lighters; watches and lifestyle accessories for men; and a robust line of heat and flame products for outdoor enthusiasts. Zippo also owns W.R. Case and Sons Cutlery Company, Bradford, PA. Zippo celebrated its 80th anniversary in 2012. For more information, visit www.Zippo.com.

About Polyconcept
Polyconcept is the world's largest promotional products supplier with sales of over $650 million. Polyconcept employs approximately 3,000 staff in 35 offices on four continents selling to over 100 countries around the globe. With its main offices in the US, The Netherlands, France, Hong Kong and China, the company supplies a wide range of promotional, lifestyle and gift products to several hundred thousand companies ranging from small enterprises to global corporations, either through a network of distributors or directly in the case of large, bespoke orders. Further information is available at www.polyconcept.com

SOURCE Zippo Manufacturing Company