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The Betesh Group acquires Bananafish

By Tanya K. Merritte -- Kids Today, 2/1/2007 12:00:00 AM

The Betesh Group, a New York-based consumer products company, has acquired crib bedding manufacturer Bananafish. Financial terms of the deal, which closed in December, were not disclosed.

Jonathan Breiter, executive vice president of The Betesh Group, said adding the Northridge, Calif.-based Bananafish to the company's portfolio makes sense as it moves forward in its expansion plans. "We are in the infant bedding business in mass in a very big way with brands such as Care Bears," he said. "This brings us into specialty and dot com retailers."

Bananafish and The Betesh Group plan to debut 20 collections at the April JPMA show in Orlando, along with an expanded assortment of coordinating lamps, diaper stackers, valances, mobiles and more. Retail prices for four-piece crib sets will start at $149 and the accessories will start around $39.99. Breiter described the new collections as being slightly more modern and contemporary and he said they will be the focus of JPMA. However, some of the more popular current designs also will be available. Bananafish will exhibit in its own booth adjacent to The Betesh Group.

Risa Popkin will remain president of Bananafish, which she and the now-retired Freddi Finegood started about a decade ago. The company will remain based in California with the same staff and many of the same manufacturing sources.

This deal "lets Risa just be creative," Breiter said. "It lets her shine with her designs and passion for the business."

Breiter said Bananafish was acquired because of its strength in the marketplace, and the deal boosts the company's infrastructure, a sentiment echoed by Popkin. "The personality of the company will remain mine," she said. "We just have more muscle."

Breiter said he has known Popkin and Finegood since the early '90s when he was with Hasbro. He said he introduced Steven Betesh, president of The Betesh Group, to Bananafish at the ABC Expo last September, which got the ball rolling on the deal.

Bananafish is now one of six companies under The Betesh Group umbrella, which also includes juvenile divisions Baby Boom and Funhouse.

Bananafish is keeping some of its current groups (shown), but plans to show 20 new collections at JPMA. The company has also unveiled a new logo (above right).

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