NY Times Deal Book
A maker of children’s gear, including popular backpacks with cartoon characters, is planning to grow — with the help of a private equity firm.
Skip Hop agreed Friday to sell a majority stake in itself to Fireman Capital Partners, a consumer-focused investment firm. Financial details of the transaction weren’t disclosed, but people briefed on the matter said that the deal was valued at nearly $60 million.
Fireman Capital is a five-year-old firm that has scored a few big hits in recent years. Most recently, the buyout shop sold Hudson Jeans, a premium denim brand, to Joe’s Jeans Inc. for nearly $98 million, tripling its investment.
Two years ago, it sold the juice maker Evolution Fresh to Starbucks for about $30 million.
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