MidOcean Partners Announces Acquisition of KidKraft, Toy Industry Leader
NEW YORK, July 15, 2015 /PRNewswire/ -- MidOcean Partners ("MidOcean"), a premier middle market private equity firm, announced today that it has acquired KidKraft, Inc. (formerly KidKraft LP, "KidKraft"), a leading global designer and marketer of branded innovative gifts, toys, play sets, furniture items, and juvenile products.
Established in 1968, KidKraft is an industry leader in the design, development, marketing, and distribution of award-winning products. The Company's innovative portfolio includes dollhouses, play kitchens, wooden toy trains, children's furniture, and other products that are staples of the toy industry and are carried by retailers such as Amazon, Walmart, Costco, Toys R Us, Target, and thousands of independent toy shops, catalogs, and websites around the world. KidKraft also sells a large number of indoor and outdoor furniture pieces that adorn children's environments in over 40 countries.
KidKraft will continue to be led by Steven Lampert, Chief Executive Officer, and Charmaine Lampert, President & Chief Creative Officer, under whose leadership the Company has grown from a start-up into an internationally-recognized category leader. KidKraft's products are loved by retailers and consumers alike and provide an active, imaginative play experience. The Company's products have consistently received accolades and prestigious awards such as Parent's Choice Awards®, Independent Toy Awards Gold Medals, Right Start Best Toy Overall Awards, Child's Magazine #1 Dollhouse, and Creative Child Magazine's Top Toy of the Year.
"MidOcean has been seeking an acquisition in the infant/juvenile sector and we believe KidKraft is a quality business and brand whose rapid global expansion can be accelerated," said Daniel Penn, Managing Director at MidOcean. "The Company has a tremendous track record of growth across geographies, retailers, and channels with both existing and new products and a world-class supply chain. We see numerous opportunities for increasing KidKraft's global presence, including through acquisition, and look forward to working with this talented team."
Following the MidOcean transaction, KidKraft's senior leadership will continue to expand the company's reach in current and new markets in partnership with MidOcean's considerable management and acquisition resources. CEO Lampert commented, "We are excited for this new chapter in KidKraft's rich brand history. We will greatly benefit from the combined resources of KidKraft and MidOcean and we look forward to expanding our business together."
Kirkland & Ellis acted as legal advisor to MidOcean. Lazard acted as exclusive financial advisor and Baker & McKenzie LLP acted as legal advisor to KidKraft.
About KidKraft
KidKraft is a global leader in the toy industry committed to inspiring children to develop their creativity and imagination through its portfolio of toys, play sets and furniture. For nearly fifty years since 1968, the brand has had an unwavering focus on the design and delivery of high quality products, serving all channels of distribution as a result of the company's world-class supply chain. KidKraft believes every child has a limitless capacity to create and explore. The products and exceptional customer service allow KidKraft to offer new adventures in play to children throughout the world. For additional information, visit www.KidKraft.com.
About MidOcean Partners
MidOcean Partners is a premier private equity firm headquartered in New York focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer and media and business services. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners. For more information, visit www.MidOceanPartners.com.
Media Relations Contact:
MidOcean: Chris Tofalli
914.834.4334
[email protected]
KidKraft: Danielle Garde
214.393.3771
[email protected]
SOURCE MidOcean Partners
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