Crown Crafts Snaps Assets of Baby Boom Consumer Products For $18M; $20M Expected In Synergies
Portfolio Pulse from Benzinga Newsdesk
Crown Crafts, Inc. (NASDAQ:CRWS) has acquired the assets of Baby Boom Consumer Products, Inc. for $18 million. The acquisition is expected to add $20 million annually to Crown Crafts' net sales and generate $20 million in synergies. The deal was financed through a term loan and an extended line of credit.
July 22, 2024 | 10:59 am
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Crown Crafts has acquired Baby Boom Consumer Products for $18 million, expecting to add $20 million annually to net sales and generate $20 million in synergies. The acquisition is expected to be accretive to earnings.
The acquisition of Baby Boom Consumer Products is expected to significantly boost Crown Crafts' net sales by $20 million annually and generate $20 million in synergies. This positive financial impact is likely to be viewed favorably by investors, leading to a potential short-term increase in CRWS stock price.
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