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Article: ZANY BRAINY BUY USES COOL LOGIC OWNERS EXPECT BANKRUPT CHAIN WILL RETAIN ITS STRENGTH AT CORE.(Business)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- July 12, 2001
CopyrightCOPYRIGHT 2001 Daily News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Gregory J. Wilcox Staff Writer
Waterton Management LLC's $115 million buyout of specialty toy retailer Zany Brainy Inc. is a no-brainer, analysts said Wednesday.
The Los Angeles investment firm bought the financially troubled company on Tuesday but the deal must first be approved by the U.S. Bankruptcy Court and a hearing has been set for Aug. 10. Both parties expect the deal to close before Labor Day.
Jim Silver, publisher of the Toy Book, a New York City-based trade publication that tracks the segment, said that it's a plus Waterton bought the company because it is familiar with the toy industry.
``Waterton is very involved ...