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July 28, 2014
16:39 EDTCRWSCrown Crafts to acquire Kidsline and CoCaLo brand names for $1.35M
Crown Crafts announced that it has entered into an agreement to acquire, through its wholly owned subsidiary, Crown Crafts Infant Products, the Kidsline and CoCaLo brand names from subsidiaries of Kid Brands, Inc. for a cash purchase price of $1.35M. Consummation of the transaction is subject to the approval of the U.S. Bankruptcy Court for the District of New Jersey as part of Chapter 11 bankruptcy proceedings initiated by Kid Brands. If approval is received, Crown Crafts will acquire only the rights to use the brand names and associated trademarks and rights, and no physical assets will be included in the acquisition.
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