Foundations acquires Child Craft, entering consumer crib segment
Was a contract juvenile product provider
-- Kids Today, 8/6/2009 7:58:00 AM
MEDINA, Ohio – Commercial crib and related infant products supplier, Foundations, has acquired select assets of Child Craft.
Since 1954, New Salisbury, Ind.-based Child Craft supplies consumers with infant and toddler furnishings through specialty stores and major retailers, under the Child Craft and Legacy brands.
The acquisition is an asset purchase, not a stock purchase, and Foundations has assumed no receivables or liabilities of Child Craft.
“The acquisition of Child Craft and our entry into the retail and consumer segments is a natural evolution of our business. The acquired assets enhance our capabilities to serve and develop business in all markets,” said Joe Lawlor, Foundations president. “The Child Craft brand has been a trusted name in juvenile furniture for generations and is consistent with the Foundations brand positioning of quality, safety, and superior value. The acquisition provides diversification and leap growth into entirely new product categories while also opening new channels of distribution for existing product lines.”
The transition of operations from New Salisbury to Medina will begin immediately. After the transition current Child Craft and Foundations customers will be able to purchase from the Foundations and Child Craft lines.
The purchase of Child Craft will mostly likely cause the consolidation of operations to Medina County and the surrounding area.
“It is undetermined how many jobs will be created as a result of the acquisition, but a number of Child Craft professional positions will be retained by Foundations and a significant number of new hourly and professional jobs will be added at the Medina headquarters,” said Lawlor.
Foundations, a division of Foundations Worldwide, is the largest U.S. supplier of cribs, crib bedding, strollers, changing stations, high chairs, and rocking chairs to child care centers, hotels, and other facilities that accommodate children.
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