M&A - CROWN CRAFTS INC

Form Type: 10-K

Filing Date: 2025-06-25

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925021205

Filing Summary: Crown Crafts, Inc. completed the acquisition of substantially all the assets and assumed certain specified liabilities of Baby Boom Consumer Products, Inc. on July 19, 2024. The purchase price was $18.0 million in cash, adjustable based on working capital at closing. This acquisition was financed by an $8.0 million term loan from CIT Group and additional borrowings from its revolving credit line. The Company operates through wholly-owned subsidiaries, primarily in the infant, toddler, and juvenile products sector, selling directly to various types of retailers. For the fiscal year ended March 30, 2025, total gross sales included 8% from international customers. The Company emphasizes its competitive strategies based on quality, design, price, and brand recognition. Crown Crafts has a solid employment base of 168 full-time employees without union representation and maintains good employee relations. It has a strong focus on intellectual property, with significant sales attributed to its trademarks and licenses.

Form Type: 10-Q

Filing Date: 2025-02-12

Corporate Action: Acquisition

Type: New

Accession Number: 000143774925003486

Filing Summary: Crown Crafts, Inc. is reporting its quarterly financial results for the period ended December 29, 2024, in this 10-Q filing. The company has disclosed total assets of $98.741 million as of December 29, 2024, reflecting an increase from $82.706 million at March 31, 2024. Net sales for the three-month period totaled $23.351 million, slightly decreasing from $23.801 million in the previous year, while the nine-month period witnessed net sales of $64.023 million compared to $65.053 million for the same period ending December 31, 2023. Crown Crafts reported a net income of $893,000 for the quarter, along with a decrease in earnings per share from the previous quarter's $0.17 to $0.09. Additionally, the company has acquired Baby Boom Consumer Products, Inc. for $18.0 million in cash, funded through a term loan and draws from its revolving credit facility. This acquisition is expected to enhance Crown Crafts' product offerings in the infant and toddler market and is being accounted for according to FASB ASC Topic 805, Business Combinations.