"We are extremely excited for Robeez to partner with Stride Rite, North America's leader in premium children's footwear," said Sandra Wilson, founder and chair of Robeez. "Stride Rite's industry-leading expertise, capital strength and careful nurturing of its well-known brands will provide a strong platform for us to execute our growth strategies and capitalize on our current momentum.
Stride Rite shares the same commitment to high quality and innovative design that our customers and retailers expect. We look forward to working with the Stride Rite team to help Robeez reach its full potential."
Stride Rite financed the transaction with a combination of cash on hand and existing credit facilities.
Lane, Berry & Co. International, LLC acted as financial advisor to Stride Rite in connection with this transaction and rendered a fairness opinion to Stride Rite's Board of Directors. Capital West Partners acted as financial advisor to Robeez in connection with this transaction.
Since 1994, Robeez Footwear Ltd has grown from one mom's home-based business to the world's leading manufacturer and marketer of soft-soled footwear for newborns to four-year olds. Recommended by experts and the first choice of many parents, Robeez shoes and booties are meticulously crafted using genuine leather.
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