D.A. Davidson Acts as Financial Advisor to Crown Crafts on its Strategic Acquisition of Baby Boom
July 23 2024 - 2:30PM
Business Wire
D.A. Davidson & Co. announced today that it served as
financial advisor to Crown Crafts, Inc. (NASDAQ: CRWS) (“Crown
Crafts”) with the successful acquisition of Baby Boom Consumer
Products, Inc. (“Baby Boom”), a leader in toddler bedding and an
early disruptor in the diaper bag category, from The Betesh
Group.
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D.A. Davidson & Co. announced today
that it served as financial advisor to Crown Crafts, Inc. with the
successful acquisition of Baby Boom Consumer Products, Inc., a
leader in toddler bedding and an early disruptor in the diaper bag
category, from The Betesh Group. (Graphic: Business Wire)
Headquartered in Gonzales, Louisiana, Crown Crafts is a publicly
held American company that designs, markets, and distributes
consumer products for infants, toddlers, and juveniles. Crown
Crafts is one of the largest suppliers of infant and toddler
bedding, bibs, and developmental toys in the United States.
“We have had a longstanding relationship with the consumer team
at D.A. Davidson. They are very experienced investment bankers in
the baby and motherhood categories and have provided Crown Crafts
excellent support in helping evaluate and execute transactions,”
said Olivia Elliott, Chief Executive Officer of Crown Crafts.
Founded in 1988 and headquartered in Newark, New Jersey, Baby
Boom designs, sources, markets, and sells high-quality and
functional diaper bags and toddler bedding. Its product offering
includes diaper bags, crib bedding, baby blankets, nursery décor,
travel accessories, and soft bath products. It was an early
disruptor in the diaper bag category, gaining market share through
innovative features and fresh designs.
With strong market presence across both the branded and licensed
segments of toddler bedding and diaper bags, Baby Boom positions
Crown Crafts to expand its product portfolio to cater to additional
needs of customers. This acquisition not only broadens the
company’s portfolio but enhances its team as well as appeal and
relevance in the competitive juvenile products sector. The
transaction will add key licenses to Crown Crafts’ portfolio
including Ms. Rachel, Bluey, Cocomelon, Paw Patrol, and more.
Joe Schimmelpfennig, Head of Consumer Investment Banking at D.A.
Davidson, commented, “We always enjoy working with Crown Crafts and
believe this acquisition further strengthens its leadership
position in the bedding category. This strategic move will enhance
Crown Crafts’ product offering as well as licensing and retail
relationships. We are proud to support its continued success.”
D.A. Davidson & Co. served as financial advisor and Smith,
Gambrell & Russell, LLP served as legal advisor to Crown Crafts
on the transaction. The CIT Group provided the debt financing for
the transaction.
D.A. Davidson’s Consumer Group has a reputation for its depth of
industry knowledge, breadth of capabilities, and tenacity of its
senior professionals. Offering sector-specific expertise through a
full-service platform, the team provides M&A, strategic
advisory, and equity capital markets capabilities across several
subsectors, including active & outdoor; infant & juvenile;
consumer products & services; ecommerce & marketplaces; and
food & beverage. Together with its European strategic partner,
MCF Corporate Finance, D.A. Davidson originates and executes
transatlantic M&A transactions under the brand of D.A. Davidson
MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services
firm offering a range of financial services and advice to
individuals, corporations, institutions, and municipalities
nationwide. Founded in 1935 with corporate headquarters in Great
Falls, Montana, and regional headquarters in Denver, Los Angeles,
New York, Omaha and Seattle, the company has approximately 1,600
employees and offices in 29 states.
Subsidiaries include: D.A. Davidson & Co., a full-service
investment firm providing wealth management, investment banking,
equity and fixed income capital markets services, and advice;
Davidson Investment Advisors, a professional asset management firm;
and D.A. Davidson Trust Company, a trust and wealth management
company.
For more information, visit dadavidson.com.
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Deal Team Contacts Joe Schimmelpfennig, Head of Consumer
Investment Banking | Irvine | jschim@dadco.com Steven Orr, Vice
President | Irvine | sorr@dadco.com
Media Contact Emily Roy Prosek for D.A. Davidson (646)
818-9232 eroy@prosek.com