BabyUniverse Inc. continues to grow its online retail base through acquisitions. This time in a deal valued at more than $12 million, BabyUniverse has acquired substantially all of the assets of PoshTots LLC, a luxury online retailer of baby and children's furnishings. The deal closed Jan. 13.
PoshTots, which generated gross sales of $7 million in 2005, sells high-end, artisan-crafted baby and children’s furniture at its primary web site PoshTots.com. It also operates PoshLiving.com, launched last fall, which sells designer quality home furnishings.
“We feel privileged to have attracted the PoshTots team into the BabyUniverse family,” said John C. Textor, chairman and CEO. “They have developed a highly differentiated business model that has resulted in a remarkably strong luxury brand, a high-margin e-commerce business, an attractive content strategy and an efficiently balanced online and offline marketing model.”
BabyUniverse, No. 224 in the Internet Retailer Top 400 Guide to Retail Web Sites, is a leading online retailer of brand-name baby, toddler and maternity products in the U.S. It operates BabyUniverse.com and DreamtimeBaby.com.
BabyUniverse bought the assets of PoshTots for $6 million in cash; $6 million in a one-year note; 237,248 shares of BabyUniverse common stock; and 110,000 warrants to purchase BabyUniverse common stock at a price of $8.10 per share. In September, BabyUniverse acquired all of the outstanding stock of Huta Duna Inc., the parent of baby products e-retailer DreamTimeBaby.com
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