2014 Government Regulations & Business Summit
Join PBN and our sponsors for our Government Regulations & Business Summit on Th ...
By PBN Staff
By PBN Staff
WOONSOCKET - Juvenile health, safety and wellness product maker Summer Infant Inc. has acquired the assets of Little Looster LLC, a designer and manufacturer of the Little Looster potty training step stool.
“The highly rated, mom-invented Little Looster broadens our existing potty-training offerings in the safety category,” Jason Macari, Summer Infant’s president and CEO, said in prepared remarks. “We are strengthening our core product categories by adding innovative items that meet the needs of our consumers. Additionally, as part of our strategy to return to profitable growth and enhance shareholder value, we will continue to assess similar transactions that we believe will contribute to our top- and bottom-line improvement initiative.”
Under the terms of the deal, which is expected to be “immediately accretive,” Summer Infact has acquired all of Little Looster’s intellectual property, which includes a patent, trade names and website, as well as tooling for manufacturing for $100,000 in cash and ongoing royalty payments.
The Little Looster potty training accessory provides “support for toddlers’ legs and fits discretely around the toilet base,” said a Summer Infant release, which added that the products horseshoe shape design allows adults to use the toilet without obstruction.
“Little Looster inventor Monica Mylet has been raising awareness of the product on social media and among respected parenting bloggers, and she will continue to do so working with the Summer Infant team,” said Macari. “Through the wider reach of our distribution channel, we can bring this product into significantly more homes around the world.”