Cater’s announces acquisition of Skip Hop

Carter’s has announced that it has acquired Skip Hop Holdings, a global lifestyle brand for families with young children, from Fireman Capital Partners. Carter’s said, acquisition of Skip Hop is expected to be accretive to the company’s fiscal 2017 adjusted earnings per share.

“Skip Hop has built a strong reputation for innovative, essential core products for families with young children,” said Michael D. Casey, Carter’s Chairman and Chief Executive Officer in a statement, adding, “Its product offering nicely complements our Carter’s brand. We look forward to working with Skip Hop founders, Michael and Ellen Diamant, and their team to build on their long track record of success.”

Skip Hop offers families with young children essential products that are differentiated from a design and function perspective. Its product portfolio includes distinctive offerings across multiple categories, including diaper bags, kid’s backpacks, travel accessories, home gear, and hardlines for playtime, mealtime, and bathtime. Skip Hop products are distributed in more than 5,000 doors in the United States and more than 60 countries.

“We are very excited to join the Carter’s team. We believe Carter’s is a terrific cultural fit for Skip Hop, and we look forward to working with Carter’s to drive Skip Hop to its full potential,” added Michael and Ellen Diamant, founders of Skip Hop.

The transaction has been structured as an acquisition of all of the outstanding equity of Skip Hop. The total purchase price is 140 million dollars in cash consideration, subject to a working capital adjustment, plus a potential future payment of up to 10 million dollars contingent upon the achievement of certain fiscal targets in 2017.

Picture:Carter's