Dorel Industries was formed in 1987 as a result of a merger between Dorel Co. Ltd., a juvenile products company established in 1962 and Ridgewood Industries, a ready-to-assemble furniture company established in 1969. The Company completed its initial public offering that same year. Over the years, as part of its growth strategy, Dorel has acquired various companies. The combination of these diverse businesses, along with Dorel's disciplined management, has allowed exceptional growth while maintaining above average returns.
Juvenile
Dorel's juvenile products are recognized brand names that provide exceptional value to the consumer. In addition to Company-owned brands, Dorel also has a licensing arrangement with Eddie Bauer for infant car seats. An emphasis on new product introductions has allowed Dorel's Juvenile segment to grow substantially over the years.
When founded, Dorel Industries was originally a manufacturer of baby mattresses. Dorel grew and developed a complete line of juvenile products with items such as cribs, strollers and car seats. In Canada, the name Dorel became synonymous with quality juvenile furniture and products. Dorel (U.K.) Ltd. was established in 1988 to penetrate the juvenile market in the United Kingdom and continental Europe.
In 1988, Dorel purchased Cosco, Inc. of Columbus, Indiana, a company involved in the production of children's furniture and accessories, as well as the production of folding metal furniture. As one of the premier juvenile product manufacturers in the United States, this acquisition significantly increased Dorel's presence in the juvenile products industry throughout North America. It also introduced Dorel to the Home Furnishings segment.
In 1994, Dorel purchased Maxi-Miliaan B.V., an infant car seat manufacturer and distributor based in the Netherlands. The acquisition allowed Dorel to more effectively penetrate the European market. Maxi-Cosi is a well-recognized brand throughout Europe and has sales offices across the continent.
In 2000, Dorel acquired Safety 1st Inc., a publicly traded company in the United States with locations in Canada and Europe. Safety 1st is a highly recognized and respected brand. The originator of the "Baby on Board" sign, the Safety 1st product line covers a wide spectrum of juvenile items.
In 2001, Dorel purchased Quint B.V. of Holland, an established designer and marketer of high-end baby strollers sold in European specialty shops under the "Quinny" brand. This acquisition allowed for a major push in Europe to significantly grow Dorel's juvenile business. The company was profitable at the time of purchase and was accretive to earnings in 2001.
In 2003, Ampafrance Development SAS (Ampa) of Cholet, France was acquired by Dorel. Founded in 1875, Ampa was a privately-held organization known in Europe through its major brands: Bébé Confort, Babidéal, MonBébé and Baby Relax. Prior to this important acquisition, Dorel had a respectable market position in Northern Europe, including the Netherlands, Germany, the UK and Belgium, whereas Ampa added a commanding presence in areas of Southern Europe, such as France, Spain, Italy and Portugal, with long established distribution channels through independent retailers and mass merchants.
In 2007, Dorel purchased a majority interest in In Good Care (IGC) of Melbourne, Australia. Created in 1974, IGC offers a large range of high quality prams and strollers, especially designed for Australian babies. IGC is the proud manufacturer and distributor of the most recognized and loved brands in the baby nursery business, such as Bertini, Mother's Choice, Go Safe, ZuZu, Disney, Aunger and Holden Licensed products.
In January 2009 Dorel further strengthened its successful high-end European juvenile lines with the purchase of all outstanding shares of Belgium-based BABY ART bvba. Created in 2006, BABY ART bvba markets its products under the BABY ART and HOPPOP brands. The same month Companhia Dorel Brasil Produtos Infantis (Dorel Brazil), a new operating division of the Company’s Juvenile segment, was established. Brazil holds tremendous promise and children’s car seats were mandated there in 2008. This is yet another strategic move to further secure Dorel’s dominance as a global leader in the juvenile products industry. Today these companies have been reorganized into several major groups. In North America, Dorel Juvenile Group USA is headquartered in Columbus, Indiana and Dorel Distribution Canada is based in Montreal, Quebec with substantial operations in Toronto, Ontario. Dorel Europe encompasses all of the Company’s European operations and is headquartered in Paris, France with substantial operations in several countries. IGC-Dorel is headquartered in Melbourne, Australia with an additional office in New Zealand.
Recreational/Leisure
Dorel markets its Recreational/Leisure products under the brands Cannondale, Schwinn, GT, Mongoose, Iron Horse, SUGOI, Pacific, RoadMaster, InSTEP and several others. Please click on the logos for more information on the products available under each brand.
Dorel established the Recreational/Leisure segment and entered a new line of business with the 2004 acquisition of Pacific Cycle, a leader in the design, marketing and distribution of high quality branded bicycles and other recreational products, best known for its Schwinn, Mongoose, GT and Roadmaster bicycle brands. Pacific Cycle sells more bicycles than anyone else in the U.S. bicycle industry and its portfolio of powerful brands is one of the strongest in the sporting goods industry.
The Recreational/Leisure segment comprises two distinct operating divisions: The Pacific Cycle division which deals with the mass merchant and sporting goods channels and the Cycling Sports Group (CSG) division which deals specifically with the Independent Bicycle Dealers (IBD) channel. The latter was formed after the February 2008 purchase of the Cannondale Bicycle Company and SUGOI Performance Apparel.
This transaction has further solidified Dorel’s presence in the bicycle industry, making it the largest marketer of bicycles in North America. Headquartered in Bethel, Connecticut, Cannondale has facilities in Bedford, Pennsylvania as well as offices in Canada, Switzerland, Holland, Japan, and Australia. Widely regarded as the bike industry's leading innovator, Cannondale’s handcrafted bicycles have won numerous design awards and are sold in over 70 countries.
In July 2009 Dorel purchased the assets of Iron Horse Bicycles, another highly recognized brand, particularly for its mountain and trail bikes. This brand is being marketed to the Sporting Goods channel, where, to date, Dorel has not had a significant position.
Further in 2009, Dorel acquired the assets of distributors in tin Australia and the United Kingdom, strengthening its presence in these markets and furthering Dorel’s objective of becoming a global leader in bicycle industry. These distributors form part of the Cycling Sports Group (CSG) worldwide which is dedicated to the Independent Bike Dealer (IBD) channel.
Home Furnishings
The Ridgewood division of Dorel Industries was founded in 1969 in Montreal, operating in the ready-to-assemble (RTA) furniture industry. RTA furniture is manufactured and packaged as component parts and is assembled by the consumer. It provides quality furniture to the consumer at an exceptional value. In 1987, as part of the Dorel / Ridgewood IPO, operations were moved to a new company-owned facility in Cornwall, Ontario which has been expanded several times.
With the acquisition of Cosco in 1988, Dorel expanded its Home Furnishings product line by adding step stools, ladders as well as folding metal tables and chairs. Now named Cosco Home & Office, this unit considerably expanded its product lines and has become a market leader in folding furniture and step stools. In the mid 1990s Dorel converted its Montreal facilities into a manufacturer of metal furniture. Renamed Dorel Home Products (DHP), this factory now employs a unique mattress production technology to make mattresses and distributes futons, beds and other furniture oriented at the youth demographic.
In 1990, Dorel acquired all of the shares of Charleswood Corporation, a manufacturer and distributor of RTA furniture located near St. Louis, Missouri. In 1998, another RTA manufacturer, Ameriwood Industries, with facilities in Tiffin, Ohio and Dowagiac, Michigan, was acquired. That same year, Ameriwood was combined with Charleswood under the Ameriwood name. In 2003, Dorel further broadened its portfolio of RTA furniture products and brands with the acquisition of Carina Furniture Industries. Today all plants are run as a cohesive unit under Ameriwood which is responsible for all domestically produced RTA furniture.
In order to maintain its leadership, Dorel uses a different approach to Home Furnishings, First, with imports from Asia becoming an increasingly competitive factor, Dorel created Dorel Asia to capitalize on this new exciting source of products. This division imports items such as upholstery, dinettes, children's furniture and other specialty products. Secondly, the Altra division completed the spectrum of imported furniture with collections in the office and audio-video segments.
