TOMY International Acquires Boon Inc. and Keen Distribution

PRNewswire

OAK BROOK -- TOMY International said it has acquired Boon, Inc. and Keen Distribution LLC. Boon/Keen is a privately-held, developer, marketer and distributor of innovative mother, infant and toddler products.

Boon premium branded feeding, bath, decor and organization products feature convenience with an innovative modern design.  Keen Distribution serves as the exclusive U.S. marketer and distributor for Bumbo International, manufacturer of the Bumbo Baby Seat, and products from the U.K.-based sleep authority, The Gro Company.

Boon/Keen’s products generated net sales of approximately $23 million over the past year with sales growth expected in the second half of 2011 and in 2012.  TOMY International funded the acquisition with approximately $20 million from its existing cash and will continue to drive the company forward.  Boon/Keen’s senior management will retain approximately 20 percent carry-over ownership.

Other terms of the transaction were not disclosed.

“We are delighted to have completed the acquisition of Boon and Keen Distribution,” said Curt Stoelting, CEO of TOMY International. “Their existing and recently developed, innovative mother, infant and toddler products are a great fit with our existing The First Years, Lamaze and JJ Cole Collections brands.

“We plan to aggressively expand Boon/Keen internationally and support growth into new product areas, while maintaining their existing premium positioning.  The acquired brands and products and the new additions to our management team allow us to rapidly expand our presence in convenient, design-driven mother, infant and toddler products.”

TOMY International is a leading designer, producer and marketer of a broad range of toys sold to preschoolers, youths and adults under the TOMY, Ertl, Johnny Lightning and Tomica brands as well as nursery products for mothers, infants and toddlers marketed under its The First Years, Lamaze and JJ Cole Collections brands. TOMY International also markets its products under popular and classic licensed properties such as Thomas & Friends, Special Agent Oso, Chuggington, Dinosaur Train, John Deere, Disney’s Winnie the Pooh, Princesses, Cars, Fairies and Toy Story, and other well-known properties.