Summer Infant, a global designer, marketer and distributor of juvenile products in Woonsocket, has acquired Little Looster, LLC, the designer and manufacturer of the award-winning Little Looster potty training step stool.
The acquisition helps broaden Summer Infant’s potty-training offerings, and widens the distribution of the popular toilet training accessory.
Summer Infant, founded on invention and innovation, looks to entrepreneurs and parenting inventors for new product ideas. They found this in Monica Mylet, founder of Little Looster – a mom who invented the potty step stool in 2010 when she identified the need for a better toilet training accessory. The Little Looster provides support for toddlers’ legs and fits discreetly around the toilet base. The horseshoe shape design allows adults to use the toilet without obstruction. In 2011, the Little Looster received a Gold Medal from the National Parenting Publications Awards (NAPPA).
“The highly rated, mom-invented Little Looster broadens our existing potty-training offerings in the Safety category,” said Jason Macari, President and Chief Executive Officer. “We are strengthening our core product categories by adding innovative items that meet the needs of our consumers. Additionally, as part of our strategy to return to profitable growth..."
Under the terms of the transaction, Summer Infant has acquired all of the company’s intellectual property, which includes a patent, trade names and website, as well as the tooling (injection mold) for manufacturing, for a purchase price of approximately $100,000 in cash and an ongoing royalty payment.
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