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Posted: Tue Jan 27, 2009 8:00 pm Post subject: Dorel Acquires Belgium Products Co |
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*** Dorel Acquires Belgium Products Co ***
Montreal, Canada -- 01/27/2009
Dorel Acquires Belgium Juvenile Products Company
New unit to provide unique high-end products throughout Europe.
Dorel Industries Inc. (TSX: DII.B, DII.A) today announced a further
strengthening of its successful high-end European juvenile lines with
the purchase of all of the outstanding shares of Belgium-based BABY
ART bvba. Created in 2006, BABY ART bvba markets its products
under the BABY ART and HOPPOP brands.
The innovative baby products and accessories, feature outstanding
modern designs, are highly popular with consumers and received
rave reviews at Europe's prestigious 2008 Cologne, Germany
juvenile trade fair.
The purchase price was US$ 5.3 million (4.1 million Euros).
The transaction, which will be immediately accretive to
earnings, is being financed through debt.
High-end innovation
BABY ART is the worldwide leader in the distribution of an original
and unique baby product which allows parents to instantly create
the print of their baby's hand or foot. (www.babyart.eu). The item
is sold in 121 countries. Another innovation, Bato, the first double
shell bath, maintains the desired temperature of baby's bath for
a longer period of time.
Both BABY ART and HOPPOP (www.hoppop.eu) have won several
prestigious international awards recognising the originality of their
various concepts.
Dorel Juvenile Group Interim President, Hani Basile, commented
that BABY ART founder, Christophe Verlinden, has demonstrated
an extraordinary passion for design and innovation in the creation
of the Company's products. "Christophe has a remarkable eye for
beauty and a dedication to quality which sets these items apart.
This acquisition is particularly meaningful as it provides us with a
range of high-end, one-of-a-kind specialty juvenile products. We
are most excited about the potential they provide in the countless
markets where Dorel operates."
"We are eager to quickly integrate the BABY ART and HOPPOP lines
into our marketing plans. Our strong relationships with our customers
should result in meaningful synergies throughout our distribution
networks," said Dorel Europe President, Jean Claude Jacomin.
Earlier this month Dorel established a new juvenile platform in
Brazil to maximize the strong potential in that country. Juvenile
car restraints became obligatory in Brazil last June.
Profile
Dorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile
products and bicycle company. Established in 1962, Dorel creates
style and excitement in equal measure to safety, quality and value.
The Company's lifestyle leadership position is pronounced in both its
Juvenile and Bicycle categories with an array of trend-setting products.
Dorel's powerfully branded products include Safety 1st, Quinny, Cosco,
Maxi-Cosi and Bébé Confort in Juvenile, as well as Cannondale, Schwinn,
GT, Mongoose and SUGOI in Recreational/Leisure.
Dorel's Home Furnishings segment markets a wide assortment
of furniture products, both domestically produced and imported.
Dorel is a US$2 billion company with 4600 employees,
facilities in seventeen countries, and sales worldwide. _________________ BMX News Reporter, An Array Of People
Reporting The BMX News & Information
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