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WOONSOCKET – Summer Infant Inc. today announced that last week it acquired Butterfly Living LLC, a manufacturer of nursery furniture sold at retailers including Target and Babies “R” Us. Financial terms were not disclosed.
Morgantown, Pa.-based Butterfly Living began developing products in 2007 and started manufacturing cribs and other products last year, primarily under a license with the Atlanta-based children’s apparel company Carter’s Inc., the company said.
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“The acquisition of Butterfly Living demonstrates our ongoing commitment to expanding the breadth of our product offering and enhancing the strength of our brand,” Jason Macari, chairman and CEO of Woonsocket-based Summer Infant (Nasdaq: SUMR), said in a statement. “Infant cribs, which is an entirely new category for Summer Infant, is a highly attractive segment of the juvenile market, and will represent a valuable addition to our product portfolio.”
Macari said the acquisition will strengthen Summer Infant’s existing relationship with Carter’s. The two companies entered into a new license agreement earlier this year.
Summer Infant plans to sell cribs made by Butterfly Living under both its brand and the Carter’s label. “We plan to build on Butterfly’s high quality, innovative designs,” he said.
Additional information is available at SummerInfant.com.
