- Bain Capital, PAI are also interested in buying the company
- Lazard is working with Artsana on sale of maker of cribs, toys
Italian buyout firm Investindustrial has won exclusive bidding rights for baby products brand Chicco, which could fetch about 1 billion euros ($1.1 billion) in a sale, said a person with knowledge of the matter.
Bain Capital and PAI Partners have also expressed interest in Chicco, said separate people familiar with the talks, who asked not to be named because the deliberations aren’t public. Chicco, which makes cribs, toys and other products for babies and toddlers, hasn’t made a final decision and could choose to sell a stake or hold on to the business, the people said.
Artsana Group, the Italian company that owns Chicco, is working with Lazard Ltd. on a potential transaction, the people said. Representatives for Investindustrial, Bain, PAI, Lazard and Artsana declined to comment.
Artsana’s baby businesses, which include the Chicco, Boppy and NeoBaby brands, accounted for about 80 percent of the company’s 949 million euros in revenues in 2014, according to its website. Health and beauty care accounted for 20 percent. Chicco was created in 1958 to cater to the needs of babies from 0 to 36 months, according to its website. The brand now sells products in more than 120 countries.
The company’s health and beauty care brands include Pic Solution medical devices, Lycia deodorants and Control condoms.