Bruce G. Crain, Chief Executive Officer and President, commented, "We are
very pleased to have completed these acquisitions and to welcome the talented
personnel of both LaJobi and CoCaLo into the
The combined purchase price of the two businesses paid at closing was
approximately
The Company also announced that it had amended and restated its Infant &
Juvenile segment credit facility, which now consists of a term loan in the
amount of
About LaJobi Industries, Inc.
Founded in 1993, LaJobi Industries, Inc. is a leading designer,
manufacturer, marketer and distributor of branded infant furniture and related
products across all three price point categories: high-end to smaller
specialty stores and boutiques; mid-tier to larger specialty retail; and
value-priced to mass-merchant, discount retailers. The Company also licenses
brands such as Graco(R) for cribs and Serta(R) for crib mattresses.
Substantially all of the Company's products are manufactured and outsourced
from independent factories in
About CoCaLo, Inc.
Established in 1998, CoCaLo, Inc. is a leading manufacturer and
distributor of infant bedding and accessory products under the brands of
CoCaLo Baby, CoCaLo Couture and Baby Martex(R). The privately-held company
sells their products through leading retailers and online merchants in
About
Founded in 1963,
The Infant & Juvenile segment currently sells its products under the Sassy(R) and KidsLine(R) brand names and select private label programs. Kids Line designs and markets infant bedding and related nursery accessories. Sassy offers products and collections such as infant development toys, bathing and baby care products. The businesses also license brands for select categories and markets including Disney(R), Leap Frog(TM) and Carter's(R).
The Gift segment encompasses seasonal and everyday plush products. The Gift segment markets its products primarily under the RUSS(R) and APPLAUSE(R) brand names and also produces products in select markets and categories under licenses that include Shining Stars(R), Raggedy Ann(TM), Curious George(TM), Simpsons(TM) and a variety of other well-recognized trademarks.
More information about the Company can be found at: www.russberrie.com.
Note: This press release contains certain forward-looking statements. Additional written and oral forward-looking statements may be made by the Company from time to time in Securities and Exchange Commission (SEC) filings and otherwise. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking words or phrases including, but not limited to, "anticipate", "believe", "expect", "project", "intend", "may", "planned", "potential", "should", "will" or "would". The Company cautions readers that results predicted by forward-looking statements, including, without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, capital needs, order backlog, interest costs and income are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Specific risks and uncertainties include, but are not limited to those set forth under Item 1A, "Risk Factors", of the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact at the Company: Contacts at Financial Dynamics: Marc S. Goldfarb Erica Pettit or Leigh Parrish Senior Vice President & General Counsel 212-850-5600 201-337-9000
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