Gonzales, Louisana-based Crown Crafts has acquired the infant and toddler product line of Springs Global US for US$12.4 million.
The deal includes existing inventory, IP and certain other assets associated with Springs’ infant and toddler products and assumed certain liabilities. Currently, Springs holds bedding licenses for Little Tikes, Disney Princess, Winnie the Pooh, My Little Pony and NASCAR.
Crown expects the addition of Springs’ infant and toddler line will boost sales of its annual toddler business to US$17.5 million from its current annual US$1.3 million take, and has earmarked toddler bedding as a real growth area. The company contends parents are increasingly choosing cribs that convert to toddler beds for their babies, prolonging the life cycle of the furniture and making parents willing to invest in the age-specific bedding.