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Teachers’ pension plan acquires big minority stake in Munchkin

-- Gifts and Dec, 4/16/2010 8:28:00 AM

NORTH HILLS, Calif. – Munchkin, Inc., designer and manufacturer of infant and toddler toys and other products, has announced that the Ontario Teachers’ Pension Plan has acquired a significant minority stake of common stock in the company. Terms of the transaction were not disclosed.

“We are pleased to have Teachers’ as a long-term strategic investor in the company,” said Steven B. Dunn, chairman and CEO, Munchkin, Inc. “The fund’s strong financial backing and established global footprint will be invaluable as we review potential acquisitions and look to expand international distribution of our award-winning products and brands.”

Erol Uzumeri, senior vice-president, Teachers’ Private Capital said, “Munchkin has a strong track record of growth and results in an attractive industry. With a skilled management team and a broad portfolio of innovative products already in place, our investment positions the company to capitalize on opportunities during the next phase of its growth.”

Uzumeri added that this investment exemplifies Teachers’' Private Capital’s strategy to invest directly in well-run businesses that can provide attractive returns over the long term.

Munchkin, established in 1991 and still privately held, has delivered more than 10 years of profitable, double digit growth. This latest transaction follows Munchkin’s January acquisition of Lindam, a top U.K. safety brand, which added safety gates to Munchkin’s existing portfolio of innovative infant products and pet products through its Bamboo division.

Teachers’ Private Capital, the private investment department of the Ontario Teachers’ Pension Plan, is one of the world’s largest private equity investors, having participated as a long-term investor in numerous transactions in Canada, the United States and Europe. Current investments of Teachers’ Private Capital include: Acorn Care & Education, Alliance Laundry Systems, Aquilex Corporation, General Nutrition Centers, Inc., Easton-Bell Sports, Exal Group, GCAN Insurance, Maple Leaf Sports & Entertainment, National Bedding Company (Serta) and Simmons Bedding Company, among others. Teachers’ Private Capital provides long-term, flexible capital and support to high-quality management teams seeking to grow and add value to their businesses over time.

With net assets of C$96.4 billion on Dec. 31, 2009, the Ontario Teachers’ Pension Plan is an independent organization responsible for investing the pension fund and administering the pensions of Ontario’s 289,000 active and retired teachers.

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