Dorel Industries buys Hong Kong kids products manufacturing firm
Acquisition includes four facilities, three plants in China and a research and development facility in Taiwan.
The purchase will provide Dorel with its first company-owned factories in Asia and says it will help with its plans to grow there.
The acquisition includes four facilities, three plants in China and a research and development facility in Taiwan.
Montreal-based Dorel says it will benefit from Lerado’s new facilities and technology, including a recently constructed car seat crash test laboratory similar to those owned by Dorel in the US and Europe.
The transaction is expected to close later this year and isn’t expected to add to earnings in the first year of operations as Dorel integrates the new facilities into its existing operations.
Dorel manufactures a number of children’s products under the Safety 1st, Quinny, Cosco, Maxi-Cosi and Bebe Confort brands, while its bikes and related products include brands such as Cannondale, Schwinn, GT, Mongoose, IronHorse and Sugoi. Dorel has annual sales of US$2.6 billion and employs 6,300 people in 24 countries.
© 2014 The Canadian Press