SAFETY FIRST FOR DOREL INDUSTRIES
By Adnews Staff
Montreal-based Dorel Industries, manufacturers of ready-to-assemble furniture, juvenile products and home furnishings, has announced it is buying Safety 1st Inc. of Canton, Massachusetts at a price tag of $13.875 a share. Safety 1st manufacturers baby products including nursery monitors, booster seats, bathtubs and child safety products. The company was also behind the creation of the "Baby On Board" car signs. Martin Schwartz, Dorel president and CEO, said the company was looking at acquisition opportunities for a while now but did not want to discredit Dorel's "tradition of selective and disciplined purchases." The purchase of Safety 1st will complement Dorel's existing juvenile product lines which includes infant car seats, strollers, high chairs, toddler beds and cribs. Dorel said it will finance the acquisition through a new lending facility by the Royal Bank of Canada.