CROWN CRAFTS INC

Crown Crafts, Inc. operates in the infant, toddler, and juvenile products segment of the consumer products industry. The company conducts its business indirectly through three wholly-owned subsidiaries: NoJo Baby & Kids, Inc. ("NoJo"), Sassy Baby, Inc. ("Sassy"), and Manhattan Toy Europe Limited ("MTE"). This segment includes products such as infant and toddler bedding, diaper bags, bibs, disposables, toys, and feeding products. Crown Crafts primarily sells its products directly to various retailers, including mass merchants, large chain stores, mid-tier retailers, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, wholesale clubs, and internet-based retailers. The company markets its products using a combination of company-owned trademarks, trademarks licensed from other entities, and as private label goods. The company's fiscal year concludes on the Sunday closest to or on March 31. Fiscal year 2025 refers to the 52-week period ending March 30, 2025, and fiscal year 2024 refers to the 52-week period ending March 31, 2024. On July 19, 2024, NoJo acquired substantially all assets and certain specified liabilities of Baby Boom Consumer Products, Inc. for a cash purchase price of $18.0 million, subject to a dollar-for-dollar adjustment based on working capital at closing compared to a target of approximately $6.5 million. This acquisition was funded by an $8.0 million term loan from CIT Group/Commercial Services, Inc. ("CIT") and additional borrowings from the company's revolving line of credit with CIT.