US: Russ completes acquisitions

Firm pays $63 million for two infant and youth orientated companies.
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Russ Berrie has completed its acquisitions of LaJobi Industries and CoCaLo, as it expands its presence in the infant and youth sectors.

The firm said it plans to keep the individual brand identities and management structures of the two businesses, in which it paid $63 million for.

Bruce Crain, president and CEO, Russ Berrie, said: "We are very pleased to have completed these acquisitions and to welcome the talented personnel of both LaJobi and CoCaLo into the Russ Berrie family.

“These transactions represent a major step forward in executing our disciplined acquisition strategy for our Infant and Juvenile segment and are expected to be key growth drivers for our business going forward.

“We intend to leverage the design-led and branded products of these businesses to further advance our leadership in the market as we continue to capitalise on the positive trends in this industry."

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