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Crown Crafts Acquires Manhattan Group, LLC, Doing Business As Manhattan Toy, & Its Subsidiary Manhattan Toy Europe, For $17M

Author: Benzinga Newsdesk | March 20, 2023 06:46am

The purchase was funded by a combination of cash on hand and proceeds from the Company's line of credit. The acquisition is expected to be accretive to earnings and will add approximately $24 million annually to the Company's net sales. Following the acquisition, the toy category will become the largest product category within the Company's business, representing approximately 40% of overall net sales.

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