______________________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Date of Report (Date of earliest event reported): June 27, 1996
SYRATECH CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-12624 13-3354944
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
175 McClellan Highway
East Boston, MA 02128-9114
(Address of principal executive office)
Registrant's telephone number, including area code: (617) 561-2200
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS. On June 27, 1996,
Registrant's indirect wholly-owned subsidiary, Farberware Inc. ("Farberware")
entered into a License Agreement with Meyer Marketing Co. Ltd. ("Meyer")
pursuant to which Farberware granted to Meyer for a cash payment of $25.5
million (i) the exclusive right and license to use and exploit the
Farberware name and related trademarks throughout the world in
connection with the sourcing, manufacture and/or distribution of (a) Non-
electrical Cookware and Bakeware Products for home (as distinguished from
commercial, industrial and/or institutional) use and (b) commercial, industrial
and/or institutional size pots, pans and roasters, (ii) the exclusive right
and license to use and exploit specific intellectual property rights
consisting of certain patents and trademarks specific to the Cookware and
Bakeware Products business of Farberware and (iii) non-exclusive rights to use
and exploit certain other intellectual property rights belonging to Farberware.
Simultaneously, Farberware assigned to Meyer all of its right, title and
interest in and to a License and Distribution Agreement, dated September
29, 1995 (the "September 1995 License"), between Farberware's predecessor
(now known as Bruckner Manufacturing Corp.) and Meyer relating to aluminum non-
stick cookware. The License Agreement and the assignment of the September 1995
License were effected pursuant to an Agreement, dated May 3, 1996, by and
among Registrant, Farberware and Meyer. Meyer's obligations under that
agreement were guaranteed by its affiliate Meyer Corporation.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibits
(1) License Agreement, dated as of June 27, 1996, by and between
Farberware Inc. and Meyer Marketing Co. Ltd.
(2) Assignment of License and Distribution Agreement, dated June
27, 1996, executed by Farberware Inc. and Meyer Marketing Company Ltd.
(3) Agreement, dated as of May 3, 1996, by and among Syratech
Corporation, Farberware Inc. and Meyer Marketing Co. Ltd.
(4) Unconditional Guaranty, dated May 3, 1996, executed by Meyer
Corporation.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto authorized.
Date: July 11, 1996 SYRATECH CORPORATION
By /s/ E. Merle Randolph
_________________________________
E. Merle Randolph
Vice President, Treasurer
and Chief Financial Officer
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EXHIBIT INDEX
SYRATECH CORPORATION
Current Report on Form 8-K
Dated June 27, 1996
Exhibit No. Description Page
(1) License Agreement, dated as of June 27, 1996, by
and between Farberware Inc. and Meyer
Marketing Co. Ltd.
(2) Assignment of License and Distribution Agreement,
dated June 27, 1996, executed by Farberware Inc.
and Meyer Marketing Company Ltd.
(3) Agreement, dated as of May 3, 1996, by and among
Syratech Corporation, Farberware Inc. and Meyer
Marketing Co. Ltd.
(4) Unconditional Guaranty, dated May 3, 1996,
executed by Meyer Corporation.