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. 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.
Dorel's first acquisition
subsequent to its 1987 IPO was Cosco in 1988. The
following is a brief summary of the acquisitions that have been
made to date. The information provided below pertains to the company
at the time of acquisition, unless otherwise indicated.
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
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 into the home furnishings
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 June of 2000, Dorel acquired
Safety 1st Inc., a publicly traded company in the
United States with locations in Canada and Europe. Safety 1st is
a recognized brand name in the North America and is a respected
company in the child safety segment of the juvenile industry. The
originator of the "Baby on Board" sign, today it's product line
includes bed rails, feeding and potty trainers, infant / children's
car seats, booster seats, strollers, play yards, high chairs, walkers,
bouncers, bassinets, infant health care products, nursery monitors,
infant bath tubs and bathing accessories, security gates and other
In April of 2001, Dorel purchased
Quint B.V. of Holland. Founded more than 50 years
ago, Quint B.V. was 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.
These companies have been
reorganized into two main groups under the Dorel Juvenile
Group banner. The North American operations, Dorel
Juvenile Group Dorel Juvenile Group USA are headquartered
in Columbus, Indiana. The Dorel Juvenile Group Europe
encompasses Maxi-Miliaan B.V., Quint B.V. and the Ampa Group.
Ampafrance Development SAS
(Ampa) of Cholet, France was acquired by Dorel in February of 2003.
Founded in 1875, Ampa was a privately-held organization known in
Europe through its major brands: Bébé Confort, Babidéal, MonBébé
and Baby Relax. Ampa is a leading force in the French market with
long established distribution channels through independent retailers
and mass merchants. Products, in all price categories, include prams,
strollers, car seats, high chairs, beds, play yards, safety aids,
apparel, as well as feeding accessories. Ampa has manufacturing
facilities in France, Italy and Portugal and employs over 1,000
Prior to this important acquisition,
Dorel had a respectable market position in Northern Europe, including
the Netherlands, Germany, the UK and Belgium, whereas Ampa enjoys
a commanding presence in areas of Southern Europe, such as France,
Spain, Italy and Portugal. The strategic benefits of this purchase
are therefore highly significant. Major European market share was
immediately gained and new distribution channels for Dorel's existing
European products were created.
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. The
product line has been expanded even further through an intensive
product development program driven by the Dorel Juvenile Group's
Design and Development Center in Canton, Massachusetts and by the
addition of Ampa's extensive line of products. This emphasis on
new product introductions has allowed Dorel's juvenile segment to
grow substantially over the years.
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 108,000 square foot manufacturing facility in
Cornwall, Ontario. Since its opening, this facility has expanded
to over 500,000 square feet.
In 1990, Dorel acquired all
of the shares of Charleswood Corporation, a manufacturer
and distributor of RTA furniture located near St. Louis, Missouri.
In May 1998, another RTA manufacturer, Ameriwood Industries,
with facilities located in Tiffin, Ohio and Dowagiac, Michigan,
was acquired. Effective December 1998, Ameriwood was combined with
Charleswood under the Ameriwood name. In September 2003, Dorel further
broadened its portfolio of RTA products and brands with the acquisition
of Carina Furniture Industries. Today all plants
are run as a cohesive unit under Ameriwood.
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 and Office, this unit has
added many new products to its line and has added the Samsonite
brand name to its offerings.
In 1994 Dorel converted its
Montreal facilities into a manufacturer of metal furniture. Renamed
Dorel Home Products, this factory now produces
futons. 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 leather recliners, dinettes, children's furniture and other
In January 2004, Dorel added a significant new line of
consumer products to its businesses with the acquisition of Pacific
Cycle, making Dorel one of the largest marketers of recreational
and leisure products in North America. Pacific Cycle
is 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.
Located in Madison, Wisconsin,
Pacific was established in 1977 and over time has achieved success
by combining a powerful brand portfolio with low cost Far East sourcing,
efficient supply chain management and multi-channel retail distribution.
Pacific Cycle's brands address the full spectrum of demographics,
price preferences, image and usage that are critical to targeting
key consumer segments within each distribution channel. This broad
distribution has enabled Pacific Cycle to garner an industry-leading
27% share of total U.S. bicycle sales including 44% of the bicycle
sales in the mass merchant sector.
With an 88% market awareness,
Schwinn is an American icon dating back to 1895, has a reputation
for delivering high quality bicycles and is one of the most widely
recognized brands in the sporting goods industry. Mongoose has a
73% market awareness and is particularly well known in the aggressive,
performance-oriented BMX bicycle and freestyle riding market. The
strength of Pacific's brand portfolio also allows it to license
its power brands domestically and internationally, thereby delivering
profitable revenue while expanding the presence of the brands into
additional product categories and markets.