Kent International Inc. has acquired Stoneridge Cycle Ltd., a bicycle supplier, for an undisclosed amount.
Ontario, Canada-based Stoneridge supplies bicycles and accessories through Canadian retailers. Terms of the deal were not disclosed.
Kent, headquartered in Parsippany, New Jersey, supplies imported bicycles. The company also designs bicycles and related accessories, which it sells through stores including Toys 'R' Us, Walmart (NYSE: WMT) and Amazon (Nasdaq: AMZN). The company’s brand names include: Kent, BCA, Goodyear, Razor, Little MisMatched, Pinkalicious, Jeep, GMC and X-Games.
The news comes just after Kent opened a bike factory in Manning, South Carolina. Kent expects the acquisition to help it gain scale and increase cost efficiency.
Other recent consumer goods deals include Altamont Capital Partners investment in skate brand Huf Worldwide Inc. and 1-800-Flowers.com's (Nasdaq: FLWS) deal for gift company Harry & David Holdings Inc. for $142.5 million. For more on consumer interest in lifestyle brands, see Retail M&A: Time-Tested Brands Sell.