Brief: Crown Crafts Acquires Manhattan Toy, A Creator Of Developmental Toys For Early Childhood
20/03/2023 11:07
March 20 (Reuters) - Crown Crafts Inc CRWS.O :
* CROWN CRAFTS ACQUIRES MANHATTAN TOY, A LEADING CREATOR OF
DEVELOPMENTAL TOYS FOR EARLY CHILDHOOD
* CROWN CRAFTS INC - PURCHASE PRICE FOR ACQUISITION IS $17
MILLION
* CROWN CRAFTS INC - ACQUISITION IS EXPECTED TO BE ACCRETIVE
TO
EARNINGS AND WILL ADD ABOUT $24 MILLION ANNUALLY TO COMPANY'S
NET SALES
* CROWN CRAFTS INC - PURCHASE WAS FUNDED BY A COMBINATION OF
CASH
ON HAND AND PROCEEDS FROM COMPANY'S LINE OF CREDIT
Source text for Eikon: ID:nGNX1x831n
Further company coverage: CRWS.O