The acquisition will allow both firms to combine resources to extend product lines in the pre-school category.
Step2 plans to increase its brand exposure by cross merchandising and marketing the expanded product range.
Scott Levin, president and CEO of Step 2 said: “Step2 is excited to combine creative teams and resources with Infantino. There are tremendous synergies in shared entrepreneurial cultures, family values and customer focus”.
“Both companies are committed to creating safe and innovative products that promote imaginative play and healthy fun, allowing “babies to be babies” and “kids to be kids,” Levin said.
Yvonne Marsh, senior managing director of Liberty Partners, L.P, the majority owner of Step2 said: “ The acquisition of Infantino is a great investment strategy for future growth by connecting the 0 to seven age range and shared customer base. We are delighted to add its marketing flair and product expertise to our investment portfolio”.
Michael Silberstein, Infantino President said: “I’m proud of what Infantino has done to develop our brand through fresh product designs, innovative package design and meaningful customer relationships and am thrilled about the future potential to grow sales along with Step2”.