NEW YORK, N.Y., July 30, 2014 (GLOBE NEWSWIRE) -- Hilco Streambank has been retained by Kid Brands, Inc. (OTCMKTS: KIDBQ) as Kid Brands' intellectual property consultant and sales agent in connection with the sale of certain of its brands. Kid Brands, Inc. and certain of its subsidiaries are Debtors under Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey. Kid Brands manufactures and distributes infant and juvenile consumer products under numerous well- known brands including Sassy®, CoCaLo® Kids Line® and LaJobi®.
The Company is currently seeking approval to sell its "Soft Home" line of brands – which include CoCalo® and Kids Line®. The initial sales price is $1.35 million and is scheduled for a sale hearing on August 18th in the bankruptcy court, subject to higher and better bids at the sale hearing. Hilco Streambank is facilitating diligence for other interested parties.
Separately, Hilco Streambank is currently seeking offers for Kid Brands' line of LaJobi® juvenile furniture and crib brands which include LaJobi®, Bonavita®, Babi Italia® and other recognized trademarks.
"The Kid Brands intellectual property portfolio presents potential buyers with an opportunity to acquire well-known brands that have established a strong presence in the market for nursery, infant and children's products." said David Peress, an Executive Vice President at Hilco Streambank.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases as well as private transactions, Hilco Streambank has established itself in the internet and telecom community as a responsible and effective intermediary in the space. Hilco Streambank is part of Northbrook, Illinois based Hilco Global ( www.hilcoglobal.com ), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Parties interested in finding out more about the Kid Brands intellectual property sale should contact Hilco Streambank directly using the contact information provided below.
Jack Hazan Executive Vice President 212-610-5663 David Peress Executive Vice President 781-444-4940
