Brad Sell, former President of CoCaLo and Kids Line, entered into an asset purchase agreement to acquire CoCaLo, Inc. and Kids Line, LLC from Kid Brands, Inc. (OTCPK:KIDB.Q) for $8 million.
August 29, 2014 at 12:00 am EDT
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Brad Sell, former President of CoCaLo and Kids Line, entered into an asset purchase agreement to acquire CoCaLo, Inc. and Kids Line, LLC from Kid Brands, Inc. (OTCPK:KIDB.Q) for $8 million on August 29, 2014. The transaction is subject to the approval of the United States Bankruptcy Court for the District of New Jersey and the execution of Transitional Services Agreement. As of September 8, 2014, the deal was approved by U.S. Bankruptcy Court.
Kenneth A. Rosen, S. Jason Teele, Steven Skolnick, Nicole Stefanelli and Shirley Dai of Lowenstein Sandler LLP acted as legal advisors for Kid Brands, Inc. Will Chuchawat of Sheppard, Mullin, Richter & Hampton LLP acted as legal advisors for Brad Sell. Eric Wilson, Kristin S. Elliott and Timothy B. Martin of Kelley Drye & Warren LLP represent the official committee of unsecured creditors. Emerald Capital Advisors Corp. acted as financial advisor to the committee, which comprises Disney Consumer Products Inc., Markup Corp. and Structure Tone Inc.
Kid Brands, Inc. (Kid Brands) is engaged in the design, development and distribution of infant and juvenile consumer products. The Company operates in one segment: the infant and juvenile business. The Company, through its wholly owned operating subsidiaries: Kids Line, LLC (Kids Line); LaJobi, Inc. (LaJobi); Sassy, Inc. (Sassy), and CoCaLo, Inc. (CoCaLo), designs and markets products in a number of categories including, infant bedding and related nursery accessories and decor, nursery appliances, diaper bags, and bath/spa products (Kids Line and CoCaLo); nursery furniture and related products (LaJobi); and developmental toys and feeding products, and bath and baby care items with features that address the various stages of an infantâs early years, including the Kokopax line of baby gear products (Sassy).
Brad Sell, former President of CoCaLo and Kids Line, entered into an asset purchase agreement to acquire CoCaLo, Inc. and Kids Line, LLC from Kid Brands, Inc. (OTCPK: KIDB.Q) for $8 million.
KID BRANDS, INC. 
