Crown Crafts Acquires Bibsters from P&G
GONZALES, La.-Crown Crafts has purchased the Bibsters product line from Procter & Gamble.
The deal, which was made through Crown Crafts' Hamco subsidiary, adds the Bibsters line of disposable bibs to the company's offerings of baby products.
It involves 26 patents and 44 trademarks which have been awarded throughout the world, according to a statement from Crown Crafts. In a separate but related transaction, Hamco has also acquired the inventory associated with the Bibsters product line, and the subsidiary plans to integrate the distribution of the Bibsters line into its facilities in Compton, Calif.
E. Randall Chestnut, chairman, president and chief executive officer of Crown Crafts, said the company anticipates that this acquisition will add $3 million to its annual net sales.