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Russ Berrie changes corporate identity to Kid Brands Inc
10 Sep '09
2 min read
Russ Berrie and Company, Inc. announced it intends to change its corporate name to Kid Brands, Inc., subject to shareholder approval later this month. The new name reflects the Company's transformation and growth strategies focused on the infant and juvenile products industry globally.
Bruce G. Crain, Chief Executive Officer and President, commented, “Our decision to pursue a new corporate identity as Kid Brands, Inc. is the culmination of our Company's transformation toward focusing purely on the attractive infant and juvenile products industry. The name reflects and communicates our current portfolio of infant and juvenile businesses and is also consistent with our additional growth strategies and intentions to enter complementary and adjacent categories over time.Further, we believe our new name reinforces our core strategy of industry leadership through design-led and innovative branded product offerings and sends a clear message about our ability to bring comprehensive solutions to our retailer partners and to consumers.”
The Company plans to continue to market its branded products primarily under the brand names of its subsidiaries (Kids Line, LaJobi, Sassy and CoCaLo), and also continue to offer programs under select licenses such as Carter's, Disney, Graco and Serta.
Shareholders have been notified of the proposal to change the corporate name to Kid Brands, nc. through the Company's proxy statement and the vote will take place at the Company's Annual Meeting planned for September 22, 2009. If the name change is approved, the Company anticipates that its trading symbol on the NYSE would be changed to "KID" as soon as possible thereafter.
Russ Berrie and Company, Inc. and its subsidiaries are leaders in the design, development and distribution of infant and juvenile branded products. Its design-led products are primarily distributed through mass market, baby super stores, specialty, food, drug, independent and ecommerce retailers worldwide.
Bruce G. Crain, Chief Executive Officer and President, commented, “Our decision to pursue a new corporate identity as Kid Brands, Inc. is the culmination of our Company's transformation toward focusing purely on the attractive infant and juvenile products industry. The name reflects and communicates our current portfolio of infant and juvenile businesses and is also consistent with our additional growth strategies and intentions to enter complementary and adjacent categories over time.Further, we believe our new name reinforces our core strategy of industry leadership through design-led and innovative branded product offerings and sends a clear message about our ability to bring comprehensive solutions to our retailer partners and to consumers.”
The Company plans to continue to market its branded products primarily under the brand names of its subsidiaries (Kids Line, LaJobi, Sassy and CoCaLo), and also continue to offer programs under select licenses such as Carter's, Disney, Graco and Serta.
Shareholders have been notified of the proposal to change the corporate name to Kid Brands, nc. through the Company's proxy statement and the vote will take place at the Company's Annual Meeting planned for September 22, 2009. If the name change is approved, the Company anticipates that its trading symbol on the NYSE would be changed to "KID" as soon as possible thereafter.
Russ Berrie and Company, Inc. and its subsidiaries are leaders in the design, development and distribution of infant and juvenile branded products. Its design-led products are primarily distributed through mass market, baby super stores, specialty, food, drug, independent and ecommerce retailers worldwide.
Russ Berrie and Company Inc
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