Projo Biz Blog

Summer Infant, Inc., of Woonsocket, said it completed the acquisition of Kiddopotamus & Company, a manufacturer and supplier of infant nursery, travel and feeding accessories.

Kiddopotamus, based in Stilwell, Kansas, manufactures a broad range of infant safety, comfort and developmental products, including a swaddling blanket which is designed to reduce the risk of Sudden Infant Death Syndrome.

Kiddopotamus had sales of approximately $13 million.

Chris Snedeker and Kristen Peterson, the co-founders of Kiddopotamus, will continue to manage the business, which will be incorporated into Summer Infant’s operations.

The purchase price was not disclosed. The acquisition will be funded through available cash and borrowings under Summer Infant’s new borrowing authority from Bank of America and the issuance of unregistered shares of Summer Infant’s common stock.

Stock in Summer Infant (SUMR:Nasdaq) closed Monday at $4.09 a share, up five cents.

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