Carter’s, Inc. to Acquire Canadian Children’s Retailer Bonnie Togs

Carter’s, Inc. announced Wednesday that it entered into a definitive agreement to acquire Toronto-based children’s apparel retailer Bonnie Togs for approximately $98 million. Bonnie Togs operates 59 retail stores in Canada and sells products under the Carter’s and OshKosh B’gosh brands, as well as other private label and national brands, and has been Carter’s principal licensee in Canada since 2007.

"The acquisition of Bonnie Togs is an important component of our long-term strategy to extend the reach of our Carter’s and OshKosh B’gosh brands to consumers in international markets," stated Michael D. Casey, Carter’s chairman and chief executive officer. "We are excited to add this successful, high-growth retail business and experienced management team to our company. We see significant potential for growth in Canada, with an opportunity to operate approximately 160 stores contributing total annual revenues of more than $200 million by 2016."