Teachers buys 'significant minority stake' in U.S. company
Last Updated: Monday, April 12, 2010 | 09:02 AM EDT
Financial Post
TORONTO -- The Ontario Teachers' Pension Plan has purchased a "significant minority stake" in a U.S. baby products manufacturer, the private company said Monday.
North Hills, CA-based Munchkin Inc., which makes infant and toddler products such as bottle brushes and diaper pails, did not release financial terms of the deal.
"We are pleased to have Teachers' as a long-term strategic investor in the company," Steven Dunn, chief executive with Munchkin, said in a release. "The fund's strong backing and established global footprint will be invaluable."
Munchkin was founded in 1991 and is stocked in more than 25,000 stores around the world.
The Ontario Teachers' Pension Plan is the largest single-profession plan in Canada with $96.4-billion in net assets including a stake in Maple Leaf Sports & Entertainment, which owns the Toronto Maple Leafs, Toronto Raptors, and various real estate holdings in Toronto. It earned $10.9-billion on its investments in 2009.
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