Carter’s Announces Plans To Take Over Bonnie Togs!
Last week Carter’s, Inc. announced that they would be taking over the Toronto-based children’s apparel retailer Bonnie Togs for a cool $98 million. The take-over makes complete sense as Bonnie Togs sells products under the Carter’s and OshKosh B’Gosh brands as well as other national and private labels. They currently operate 59 retail stores in Canada.
“The acquisition of Bonnie Togs is an important component of our long-term strategy to extend the reach of our Carter’s and OshKosh B’gosh brands to consumers in international markets,” stated Michael D. Casey, Carter’s chairman and chief executive officer. “We are excited to add this successful, high-growth retail business and experienced management team to our company. We see significant potential for growth in Canada, with an opportunity to operate approximately 160 stores contributing total annual revenues of more than $200 million by 2016.”
Excellent move! We have a Carter’s and OshKosh B’gosh that just opened in our town and I’m loving their stuff. It will be great to see more open up.