Crown Crafts Purchases Springs Global Line Of Toddler Products
Crown Crafts Inc., a Gonzales, La.-based designer, marketer and distributor of infant consumer
products, recently purchased through its Crown Crafts Infant Products Inc. subsidiary the toddler
bedding product line of Fort Mill, S.C.-based Springs Global US Inc. — the US-based subsidiary of
Brazil-based home textiles manufacturer Springs Global Participações S.A.
The acquisition, valued at $12.4 million, includes inventory, intellectual property and other assets. Springs operations will be merged into existing operations at Crown Crafts Infant Products.
“The addition of Springs’ infant and toddler product line is expected to expand the company’s toddler business from $1.3 million to $17.5 million,” said E. Randall Chestnut, chairman, president and CEO, Crown Crafts. As part of the agreement, Springs will warehouse and distribute purchased products for six months.
December 27, 2007
The acquisition, valued at $12.4 million, includes inventory, intellectual property and other assets. Springs operations will be merged into existing operations at Crown Crafts Infant Products.
“The addition of Springs’ infant and toddler product line is expected to expand the company’s toddler business from $1.3 million to $17.5 million,” said E. Randall Chestnut, chairman, president and CEO, Crown Crafts. As part of the agreement, Springs will warehouse and distribute purchased products for six months.
December 27, 2007
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