MONTREAL - Dorel Industries Inc. has acquired the remaining 30 percent interest in its Brazilian faction, making it a wholly owned subsidiary of the juvenile furniture and products company.
Dorel invested $1.6 million to purchase the remaining shares of Companhia Dorel Brasil Produtos Infantis (Dorel Juvenile Brazil). Rafael Camarano will continue as president and CEO of Dorel Juvenile Brazil, according to the December 24 announcement.
This follows Dorel's acquisition of the juvenile business of Hong Kong-based Lerado Group, one of the largest juvenile product manufacturers in China. Finalized in November, the acquisition gives Dorel its first company-owned factory in Asia.
In addition to juvenile products, Dorel (TSX: DII.B DII.A) offers residential furniture and furnishings as well as bicycles. Based in Montreal, the company has annual sales of $2.4 billion and employs approximately 10,500 people in facilities located in 25 countries worldwide.
Dorel's home furnishings division includes the following brands: Ameriwood, Cosco Home and Office (COSCO), Dorel Home Products (DHP) Dorel Asia, Signature Sleep and Altra. Included in the juvenile products portfolio are such brands as : Maxi-Cosi, Safety 1st, Bebe Confort, Quinny, Tiny Love, Cosco and Infanti.
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