KidKraft is expanding into the outdoor toy sector, with its recent acquisition of Solowave Design.
As part of the deal, KidKraft has acquired the manufacturer of ready to assemble outdoor wooden play centers and playhouses under the Big Backyard and Cedar Summit brand names for an undisclosed sum.
Lawrence Writer, president and CFO at KidKraft, said: “The decision to acquire Solowave and its Big Backyard and Cedar Summit brands was strategic on many fronts, but most importantly positions KidKraft as a brand that lives in the playroom, family room and the outdoors.”
Robert Bartucci, president of Solowave, added: “We are excited for this new chapter in Solowave’s global growth. We are enthusiastic to join the KidKraft team because they understand our business, and we share the same passion for traditional and imaginative play.
“KidKraft’s global infrastructure will enable Solowave to accelerate our growth internationally while continuing to provide best-in-class products.”