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Infantino is designer and marketer of toys
By Betty Lin-Fisher Beacon Journal business writer
Published on Saturday, Sep 29, 2007
It's a first for Streetsboro toy manufacturer Step2.
The company's parent, Step2 Holdings LLC, has made its first acquisition by purchasing a privately owned designer and marketer of infant toys and accessories called Infantino.
''Step2 is excited to combine creative teams and resources with Infantino,'' Step2 President and Chief Executive Officer Scott Levin said in a news release. ''There are tremendous synergies in shared entrepreneurial cultures, family values and customer focus.''
The acquisition is the first for Step2, spokeswoman Dotti Foltz said.
Infantino, headquartered in California with about 75 employees, and Step2 will operate as separate business units, the company said. Step2 has 800 employees at two plants in Ohio, one in Streetsboro, the other in Perrysville. A third plant is in Fort Valley, Ga.
Infantino and Step2 will combine resources ''to create a natural extension of complementary lines to the preschool category,'' the company said.
Yvonne Marsh, a senior managing director of Liberty Partners LP, the majority owner of Step2, said, ''The acquisition of Infantino is a great investment strategy for future growth by connecting the 0-7 (age) range and shared customer base.''
Betty Lin-Fisher can be reached at 330-996-3724 or blinfisher@ thebeaconjournal.com.
It's a first for Streetsboro toy manufacturer Step2.
Get the full article here.
