Boon Inc, Keen Distribution LLC announce acquisition by TOMY International

Boon Inc and Keen Distribution on Wednesday announced the acquisition of substantially all of its assets by Japan's TOMY International. Boon is a leading innovator, designer and manufacturer of premium, modern infant and baby products, and Keen Distribution LLC, is a brand cultivator and U.S. distributor of children's products.

Curt Stoelting, CEO of TOMY International, said, "We are delighted to have completed the acquisition of Boon and Keen Distribution. Their existing and recently developed, innovative mother, infant and toddler products are a great fit with our existing brands. We plan to aggressively expand Boon and Keen internationally and into new product areas, while maintaining their existing premium positioning."

Boon was founded in 2004 by Rebecca Finell and Ryan Fernandez with one product, the Frog Pod. Boon has since developed over 100 infant and toddler products, including bath, feeding, organization and decor items, and will continue to push the boundaries in new categories moving forward. In just under seven years, Boon has shaken up the juvenile products industry, setting new standards for innovation and design.

Of the acquisition, Finell said, "The opportunity to join forces with TOMY allows us to expand the company in ways we've always imagined. Being part of the TOMY team enables us to further our role as innovators in the juvenile products industry."

Added Fernandez: "We're excited to become a part of the TOMY team. This partnership allows us to bring existing and new products to the global market more quickly and better meet the needs of our consumers."

Following Boon's success, Finell and Fernandez founded Keen Distribution in 2008. Keen Distribution is the exclusive U.S. marketer and distributor for Bumbo International, manufacturer of the Bumbo Baby Seat, the Mommy Hook stroller accessory, and products from the UK-based safe sleep authority, The Gro Company.

Boon and Keen products are available in thousands of stores in the U.S. and Boon products are distributed in over 50 other countries.

Boon and Keen have experienced rapid growth in recent years, more than doubling sales since 2009. Net sales over the past twelve months are approximately $23 million, and the companies expect to exceed $30 million in sales over the next year.

TOMY International funded the acquisition with approximately $20 million from its existing cash. Boon and Keen's senior management will retain approximately 20 percent carry-over ownership and will continue to drive the company forward. Other terms of the transaction were not disclosed.

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