Big news in the baby gear world today! Newell Rubbermaid announced today it has signed a an agreement to acquire Baby Jogger Holdings, Inc. Founded in 1984, Baby Jogger is a leading designer and marketer of infant and juvenile products focused on premium and travel strollers and related accessories. Baby Jogger has a strong reputation thanks to its full line of award-winning functional products designed for active and on-the-go parents. The company’s City Mini® stroller continues to set the standard in the premium space with its lightweight, sleek and award-winning design and patented one-handed fold.
Newell Rubbermaid President and CEO Michael Polk said, “Baby Jogger has a great track record of growth and innovation, and their City Mini®, City Select® and other sub-brands in the premium stroller category are perfect complements to our Graco stroller business. Baby Jogger sells its products in more than 70 countries around the world and will help us transform Newell Rubbermaid into a larger, faster growing, more global and more profitable company.”
Baby Jogger will become part of Newell Rubbermaid’s Baby & Parenting segment joining the company’s Graco® and Aprica® businesses.
“Baby Jogger is a leader in the premium stroller market, and is the product of choice for modern, urban, active parents who appreciate Baby Jogger’s quality, design, and innovative features, such as their Quick-Fold technology,” said Mark Tarchetti, Newell Rubbermaid’s Chief Development Officer. “The Baby Jogger brand and product sub-brands are very well known around the world. We see this as a great opportunity to grow our business in the premium space, and expand our geographic footprint, both of which will further accelerate our growth under the Growth Game Plan.”
Mark Zehfuss , CEO of Baby Jogger, said “We are delighted to have found a long term strategic owner for the business who shares our pride in the achievements and vision of the company, but can bring a new level of investment and broad juvenile products expertise.”
The acquisition is expected to close by the end of the fourth quarter of 2014, subject to customary conditions and regulatory approvals.