Brief: Crown Crafts acquires Carousel Designs
07/08/2017 11:45
Aug 7 (Reuters) - Crown Crafts Inc CRWS.O
* Crown Crafts transforms its online business with
acquisition of internet retailer, Carousel Designs
* Crown Crafts Inc - transaction closed on August 4, 2017
and includes a purchase price of $8.8 million in cash plus
assumption of certain liabilities
* Crown Crafts Inc - Crown Crafts funded acquisition with
cash on hand
* Crown Crafts Inc - Carousel Designs will be operated as a
wholly-owned subsidiary of company and is expected to be
immediately accretive to earnings
* Crown Crafts Inc - Jonathan Hartley, Allan Sicat, CEO and
president of Carousel Designs, respectively, to remain in same
positions for new unit of co
Source text for Eikon: ID:nGNXOCWCPa
Further company coverage: CRWS.O
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