Exclusivity Period Extended for Dorel Potential Going-Private Transaction
Dorel Industries Inc. (“Dorel”) announced that the previously-announced ten-day exclusivity period granted to a buyer group led by affiliates of Cerberus Capital Management, L.P. and Martin Schwartz, Jeffrey Schwartz, Alan Schwartz and Jeff Segel has been automatically extended in accordance with the terms of the exclusivity agreement for a further period of seven days, through November 17, 2020. Dorel and the Buyer Group continue their negotiations with a view to entering into a definitive transaction agreement for the proposed going-private transaction.
As previously announced, Dorel does not intend to make any further announcements or to provide any updates with respect to the potential going-private transaction unless and until Dorel enters into a definitive agreement.
About Dorel Industries Inc.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating three distinct businesses in juvenile products, bicycles and home products. Dorel’s strength lies in the diversity, innovation and quality of its products as well as the superiority of its brands. Dorel Juvenile’s powerfully branded products include global brands Maxi-Cosi, Quinny and Tiny Love, complemented by regional brands such as Safety 1st, Bébé Confort, Cosco and Infanti. Dorel Sports brands include Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse. Dorel Home, with its comprehensive e-commerce platform, markets a wide assortment of domestically produced and imported furniture. Dorel has annual sales of US $2.6 billion and employs approximately 8,000 people in facilities located in 25 countries worldwide.
Rick Keckner – Saint Victor Investments Inc. – (514) 973-3344
Source: Dorel Industries Inc.