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Goodbaby acquires Evenflo and reinforces its position in the U.S.

Acquisition to provide new distribution channels to both babycare products companies

10/06/2014

The Evenflo company has has signed an agreement to be acquired by Goodbaby International. The agreement is definitive and binding pending Goodbaby shareholder approval. The operation aims to further expand Goodbaby’s product portfolio to include mid- to- value child safety car seats. Upon closing, Evenflo will become a wholly-owned subsidiary of Goodbaby and will be led by the existing management team.

The direct distribution network of Evenflo in North America will enable Goodbaby to reinforce its presence in the North American juvenile products market, as over 70% of Evenflo sales are manufactured in their Piqua, Ohio, and Tijuana, Mexico facilities, and over 90% of Evenflo’s 2013 revenues are traced to the U.S. and Canada whose Evenflo brands are sold through key retailers such as Wal-Mart, Toys ‘R’ Us, Target and Amazon.

The acquisition also complements Goodbaby’s recent acquisition of the Cybex juvenile products brand in Europe. Goodbaby will utilize its research and development capabilities to support both brands to "realize major untapped potential in brand growth, mutually leverage global distribution channels and manufacturing facilities and achieve infrastructure and supply chain efficiencies internationally," according to a statement released by Evenflo and Goodbaby.

Evenflo also expects that this alliance "will complement its existing business strategy to drive global growth, increase market share, and expand its product portfolio and customer base to increase profits and the overall shareholder value of the Company."

Goodbaby is principally engaged in the design, research and development, manufacturing, marketing and sale of durable juvenile products. Evenflo was established in Ravenna, Ohio in 1920 and principally engages in the design, research and development, manufacturing, marketing and sale of Evenflo, Exersaucer and Snugli branded portfolio including car seats, travel systems, safety gates, high chairs, play yards, stationary activity centers, infant carriers and doorway jumpers.

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