A subsidiary of Gonzales-based baby products company Crown Crafts has acquired the Sassy-branded developmental toy, feeding and baby care product line of Sassy 14 LLC for $6.5 million in cash.
Hamco is buying the inventory, intellectual property and other assets associated with the Sassy product line. The Grand Rapids, Michigan-based company's products are sold nationwide through mass-market and specialty retailers, including Walmart, Target and Babies "R" Us. Sassy products also are sold worldwide in about 30 countries.
Sassy's developmental baby products will further diversify Crown Crafts' portfolio and strengthen the company's position in the infant and juvenile products market, said E. Randall Chestnut, Crown chairman, president and chief executive officer.
Crown said the deal is expected to contribute about $11 million in net sales annually and will immediately add to earnings.