Crown Crafts Announces Sales and Distribution Agreement with Cambridge
GONZALES, La., Aug. 8, 2012 /PRNewswire/ -- Crown Crafts, Inc. (NASDAQ-CM: CRWS), today announced that it has entered into a marketing and distribution agreement with the Cambridge Towel Company, Inc. of Cambridge, Ontario, Canada.
Under this agreement Cambridge Towel, with support from Crown Crafts, will market, sell, warehouse and distribute Crown Crafts Infant Products and Hamco product lines throughout Canada. This will include bedding, blankets and accessories as well as bibs and bath products for infants and toddlers. Cambridge Towel has hired a dedicated sales and marketing staff with infant industry expertise to provide "on the ground" support and immediate delivery to Canadian retail customers.
"Cambridge Towel Company is a fashion forward, customer focused manufacturer whose success in their industry is unprecedented," said E. Randall Chestnut, chairman and chief executive officer of Crown Crafts, Inc. "We look forward to this relationship and the benefits it will provide to our Canadian retail partners. Through Cambridge, Crown Crafts will be able to increase speed to market and product selection while offering immediate on-site support to our customers."
"We are excited to expand our product offerings and enter the infant market here in Canada," said Hugh Thompson, President of Cambridge. "Crown Crafts is the perfect addition to help us serve the broader needs of our retail customers as we continue to diversify and add product categories."
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products, including crib and toddler bedding and blankets; nursery and bath accessories; reusable and disposable bibs and floor mats; burp cloths; room decor; and disposable placemats, toilet seat covers and changing mats. The Company's operating subsidiaries include Crown Crafts Infant Products, Inc. in California and Hamco, Inc. in Louisiana. Crown Crafts is America's largest producer of infant bedding, bibs and bath items. The Company's products include licensed and branded collections as well as exclusive private label programs for certain of its customers. The latest news about Crown Crafts can be found at www.crowncrafts.com.
About Cambridge Towel Company, Inc.
Privately held Cambridge Towel Company, Inc. is a Canadian-owned and operated company with 40 years of experience in the textile industry. Cambridge Towel's status as the only Canadian and largest North American towel manufacturer, along with an unsurpassed product and market knowledge and technical innovation has made Cambridge one of the most trusted and well-known brands in bath fashions. Cambridge's Product Development, Design and Sales teams are proficient at putting together marketing campaign and merchandising vehicles for retail. Their shipping and logistics team handles all distribution of products in retail, hospitality and e commerce locations all over the world. Cambridge Towel boasts a 200,000 square foot distribution center and employs more than 200 people in Ontario Canada.
Vice President and Chief Financial Officer
SOURCE Crown Crafts, Inc.
Released August 8, 2012