Kids2 Acquires SUMR Brands (Summer Infant)
March 16, 2022
Kids2, Inc. will acquire all outstanding common stock of SUMR Brands (Summer Infant, Inc.) for $12.00 per share in an all-cash transaction, implying a 41.2% premium to the March 15, 2022 closing price. The transaction, unanimously approved by SUMR's board and supported by significant stockholders Wynnefield Capital and Jason Macari, is expected to close in Q2 2022 and is subject to shareholder approval and Kids2 securing debt financing; SUMR will become privately held and delisted from Nasdaq upon closing.
- Buyers
- Kids2, Inc.
- Targets
- SUMR Brands (Summer Infant, Inc.)
- Sellers
- SUMR Brands stockholders, Wynnefield Capital, Jason Macari
- Industry
- Consumer Products
- Location
- Rhode Island, United States
- Transaction Type
- Buyout
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