Evenflo to Focus on Growth Opportunities for Its Diverse Product Offerings in Juvenile Travel, Home Safety and Ameda Breast Feeding
MIAMISBURG, Ohio--()--Evenflo Company, Inc., a trusted partner in nurturing babies' growth and development through innovative juvenile products, today announced that it has entered into a definitive agreement to sell its worldwide feeding business, excluding its Ameda breast pump business, to Kimberly-Clark de México, S.A.B. de C.V. (“KCM”) (BMV:KIMBER A), a leader in personal and family care products in Mexico. In addition to Ameda, Evenflo will retain its leading juvenile travel and home safety businesses.
"We are excited about this transaction and foresee both the retained and divested businesses being able to build upon their current growth trends. Our remaining businesses include the Ameda hospital and retail businesses; Evenflo car seats, travel systems, safety gates, jumpers, playards and high chairs; ExerSaucer activity centers; and Snugli soft carriers," said Evenflo Chief Executive Officer Scott Weiss. "This transaction enhances our financial flexibility and creates additional opportunities to accelerate the earnings momentum we achieved in 2011. It also aligns us with a recognized and respected consumer products company. We will remain focused on quality and innovation to ensure that Evenflo continues to provide infant and juvenile products of choice for individuals and institutions worldwide."
For nearly a century, Evenflo has been a trusted name in infant and juvenile products with market-leading positions across several of its product categories. Demographic trends, such as the increasing adoption of breastfeeding and an anticipated recovery in U.S. child births, as well as longstanding relationships with the world's leading juvenile products retailers, favor the growth prospects for Evenflo's diverse remaining businesses. The company's products are sold throughout North America and are distributed in over 50 countries worldwide.
Weston Presidio, a private equity firm focused on growth companies within the consumer, business services and industrial growth sectors, will retain its majority ownership position in Evenflo. “This is a significant development in the ongoing growth of Evenflo,” said Weston Presidio Partner Kevin Hayes. “The company's prospects are promising, and we look forward to continuing to support Scott Weiss and his team as Evenflo capitalizes on the many opportunities before it.”
Rothschild is serving as Evenflo's financial advisor, and Ropes & Gray and Jones Day are providing the company with legal counsel.
About Evenflo Company, Inc.
Evenflo Company, Inc. is a leading manufacturer and marketer of infant and juvenile products. Majority owned by Weston Presidio, Evenflo was founded in 1920 and is a top supplier of infant and juvenile products to key retailers such as Toys “R” Us, Babies “R” Us, Wal-Mart, Target, Buy Buy Baby and Kmart. The company's product offering spans a broad range of essential infant and juvenile product categories. Evenflo's premier brand name has 96 percent awareness with new mothers, and the company enjoys #1 or #2 market share positions in several product categories. For more information on Evenflo, visit www.evenflo.com.
About Kimberly-Clark de México
Kimberly-Clark de México is engaged in the manufacture and commercialization of disposable products for daily use by consumers within and away-from-home, such as: diapers and child care products, feminine pads, incontinence care products, bath tissue, napkins, facial tissue, hand and kitchen towels, wet wipes and health care products. Some of the main brands are: Huggies®, Kleen-Bebé®, Kleenex®, Kimlark®, Pétalo®, Cottonelle®, Depend® and Kotex®.
About Weston Presidio
Weston Presidio, founded in 1991, is a private equity firm that has managed five investment funds aggregating over $3.3 billion. The firm focuses its investment activities on growth companies in the consumer, business services and industrial growth sectors. With offices in Boston and San Francisco, Weston Presidio targets middle market opportunities primarily in the United States. More information is available at www.westonpresidio.com.
“This is a significant development in the ongoing growth of Evenflo”Under the terms of the agreement, KCM will acquire the Evenflo trademark in Mexico; Evenflo's global feeding assets, excluding Ameda; and Evenflo México, S.A. de C.V. Additionally, certain supply, services and brand licensing agreements are included as part of the transaction. The transaction is expected to be completed by the end of January 2012, and is subject to regulatory approval, including Hart-Scott-Rodino clearance.
"We are excited about this transaction and foresee both the retained and divested businesses being able to build upon their current growth trends. Our remaining businesses include the Ameda hospital and retail businesses; Evenflo car seats, travel systems, safety gates, jumpers, playards and high chairs; ExerSaucer activity centers; and Snugli soft carriers," said Evenflo Chief Executive Officer Scott Weiss. "This transaction enhances our financial flexibility and creates additional opportunities to accelerate the earnings momentum we achieved in 2011. It also aligns us with a recognized and respected consumer products company. We will remain focused on quality and innovation to ensure that Evenflo continues to provide infant and juvenile products of choice for individuals and institutions worldwide."
For nearly a century, Evenflo has been a trusted name in infant and juvenile products with market-leading positions across several of its product categories. Demographic trends, such as the increasing adoption of breastfeeding and an anticipated recovery in U.S. child births, as well as longstanding relationships with the world's leading juvenile products retailers, favor the growth prospects for Evenflo's diverse remaining businesses. The company's products are sold throughout North America and are distributed in over 50 countries worldwide.
Weston Presidio, a private equity firm focused on growth companies within the consumer, business services and industrial growth sectors, will retain its majority ownership position in Evenflo. “This is a significant development in the ongoing growth of Evenflo,” said Weston Presidio Partner Kevin Hayes. “The company's prospects are promising, and we look forward to continuing to support Scott Weiss and his team as Evenflo capitalizes on the many opportunities before it.”
Rothschild is serving as Evenflo's financial advisor, and Ropes & Gray and Jones Day are providing the company with legal counsel.
About Evenflo Company, Inc.
Evenflo Company, Inc. is a leading manufacturer and marketer of infant and juvenile products. Majority owned by Weston Presidio, Evenflo was founded in 1920 and is a top supplier of infant and juvenile products to key retailers such as Toys “R” Us, Babies “R” Us, Wal-Mart, Target, Buy Buy Baby and Kmart. The company's product offering spans a broad range of essential infant and juvenile product categories. Evenflo's premier brand name has 96 percent awareness with new mothers, and the company enjoys #1 or #2 market share positions in several product categories. For more information on Evenflo, visit www.evenflo.com.
About Kimberly-Clark de México
Kimberly-Clark de México is engaged in the manufacture and commercialization of disposable products for daily use by consumers within and away-from-home, such as: diapers and child care products, feminine pads, incontinence care products, bath tissue, napkins, facial tissue, hand and kitchen towels, wet wipes and health care products. Some of the main brands are: Huggies®, Kleen-Bebé®, Kleenex®, Kimlark®, Pétalo®, Cottonelle®, Depend® and Kotex®.
About Weston Presidio
Weston Presidio, founded in 1991, is a private equity firm that has managed five investment funds aggregating over $3.3 billion. The firm focuses its investment activities on growth companies in the consumer, business services and industrial growth sectors. With offices in Boston and San Francisco, Weston Presidio targets middle market opportunities primarily in the United States. More information is available at www.westonpresidio.com.
Full Article
For a Complete Version of this BUSINESS WIRE Press Release
 |
All comment postings require your name and email address for user verification only. Your email address will not be used or distributed for any other purpose.
No advertising is permitted and will result in the post being deleted and/or banning. Please click "REPORT" to report any inappropriate posts. blog comments powered by Disqus
Permission to Reproduce:
Unless otherwise stated, the copyright and similar rights to all material published on this website are owned by The Manufacturers Group Inc. DBA Manufacturing & Technology eJournal( mfrtech.com ). Reproduction of any article in print, electronic or any other form must acknowledge mfrtech.com as the Source and include a link to http://www.mfrtech.com
 |
