ERGObaby Carrier, Inc. has acquired Orbit Baby, Inc. for a purchase price of $17.5 million, according to Compass Diversified Holdings, Inc., which acquired controlling interest in ERGObaby in 2010.
Founded in 2004 and based in Newark, CA, Orbit Baby produces and markets a premium line of stroller travel systems. Orbit Baby's high-quality products include car seats, strollers and bassinets that are easily interchangeable using a patented hub ring.
“Since acquiring ERGObaby in September 2010, we have made significant investments aimed at strengthening its future prospects and expanding its leadership position in the child mobility and transport product category,” said CODI CEO Alan Offenberg. “The accretive add-on acquisition of Orbit Baby is consistent with these important objectives as we remain focused on utilizing our balance sheet strength to capitalize on favorable growth opportunities.”
Tim Bruer, CEO of ERGObaby, stated, “This attractive acquisition provides a great opportunity to further our rapid growth in the Baby Durables market. With this complementary line of advanced stroller travel systems, we intend to further expand our distribution levels in the U.S. and internationally. We look forward to seamlessly integrating our operations and working closely with Orbit Baby's management to drive future performance.”
Founded in 2003, ERGObaby is a premier designer, marketer and distributor of hands-free baby carriers and related products on a worldwide basis for all babies, from newborn to toddler. ERGObaby's strong track record in product innovation, reliability and safety has led to numerous awards and accolades from consumer surveys and publications, including Parenting Magazine, Pregnancy Magazine and Wired Magazine. ERGObaby offers a broad range of environmentally conscious babywearing products and accessories that are sold through more than 700 retailers and web shops in the United States and internationally in approximately 30 countries.