Summer Infant acquires crib maker Butterfly
Marks Summer's entry into crib category
-- Kids Today, 7/23/2009 7:53:00 AM
WOONSOCKET, R.I. – Juvenile products maker, Summer Infant has acquired Butterfly Living, a manufacturer of cribs headquartered in Pennsylvania. Butterfly currently markets cribs and related nursery furniture to mass merchant retailers, primarily under a license with Carter’s.
“The acquisition of Butterfly Living demonstrates our ongoing commitment to expanding the breadth of our product offering and enhancing the strength of our brand,” said Jason Macari, chairman and CEO.
“Infant cribs, which is an entirely new category for Summer Infant, is a highly attractive segment of the juvenile market, and will represent a valuable addition to our product portfolio. In addition, Butterfly’s license with Carter’s for the crib category will strengthen Summer’s existing relationship with Carter’s,” he continued. “We plan to build on Butterfly’s high quality, innovative designs, and intend to market these new cribs under both the Carter’s and Summer Infant brands to expand our retail placement.”
Macari said the acquisition won’t really impact 2009 financial results, since Butterfly was in the product development phase in 2007 and first began shipping product to retailers during fiscal 2008.
“However, by leveraging Summer Infant’s distribution network and solid retail customer relationships, we expect nursery furniture to be a significant category in the future,” he said.
Summer Infant is a designer, marketer and distributor of branded durable juvenile health, safety and wellness products for ages 0-3 years, which are sold principally to large U.S. retailers. The company currently sells proprietary products in a number of different categories, including nursery audio/video monitors, safety gates, durable bath products, bed rails, nursery products, booster and potty seats, infant bedding, bouncers, travel accessories, highchairs, swings and nursery furniture.
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