NEW YORK - Children's furniture and toy provider KidKraft Inc. has been acquired by MidOcean Partners, a private equity firm. Terms of the deal, announced July 15, were not released.
"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."
KidKraft CEO Steven Lampert and Charmaine Lampert, president and chief creative officer, will continue to lead the company. Established in 1968, KidKraft's portfolio of products includes: indoor and outdoor children's furniture, wooden toy trains, dollhouses, play kitchens, wooden toy trains and other products which are sold nationwide through retailers including Amazon, Walmart, Costco, Toys R Us and Target.
"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," said Steven Lampert.