Publicly traded investment firm GP Investments Acquisition Corp. (Nasdaq: GPIA, GPIAW, GPIAU) agreed to purchase houseware maker World Kitchen LLC for $566 million in stock and cash.

World Kitchen, based in Rosemont, Illinois, produces houseware products under the Pyrex, Corelle, Corningware, Snapware, Baker’s Secret, Chicago Cutlery and Vintage Charm brands. World Kitchen CEO Carl Warschausky says the company was seeking a financial partner as part of its growth plans.

“We believe the company will be well positioned to continue and amplify the trend of organic growth, increase efficiencies as the business continues to scale, and take advantage of considerable sector consolidation opportunities,” says GP CEO Antonio Bonchristiano.

GP will fund the acquisition through the combination of cash and 6.5 million shares of common stock valued at $10 per share. The cash portion will be funded through cash, five million shares of common stock and a new debt facility. An affiliate of GP is also co-investing $50 million in the transaction.

GP is a New York-based alternative investment firm that has holdings in private equity and real estate. Its PE arm primarily focuses on Latin America where some of its investments include Brazilian sporting goods retail chain Centauro and salon operator Beleza Natural, also located in Brazil.

Citigroup Inc. (NYSE: C) and UBS are advising GP with Duff & Phelps advising the special transaction committee of the board. The buyer is being represented by Skadden Arps Slate Meagher & Flom LLP. Morgan Stanley (NYSE: MS), Latham & Watkins and Davis Polk & Wardwell are advising World Kitchen.

In other houseware deals, Endeavour Capital has made an undisclosed investment in food and beverage container maker Pacific Market International LLC and in 2015, Taylor Precision Products Inc. acquired Chef'n Corp., a provider of baking equipment and cleaning utensils.