Carter's, Inc.

Carter's, Inc.
Public
Traded as NYSE: CRI
S&P 400 Component
Founded  1865 (1865-MM)
Founder William Carter
Headquarters Atlanta, Georgia, U.S.
Number of locations
 654 (January 2017)[1]
Products Clothing
Subsidiaries OshKosh B'Gosh
Website www.carters.com

Carter's, Inc., also known as the William Carter Company, is a major American designer and marketer of children's apparel. It was founded in 1865 by William Carter. Carter's acquired competitor OshKosh B'Gosh for $312 million in 2005.[2]

History

William Carter was the founder of William Carter Company in 1865 in Needham, Massachusetts. William Carter (1830–1918) was born in Alfreton, Derbyshire, England. He arrived in America on January 28, 1857. He married Martha Lee (1842-1873). They had four children: William Henry Carter (1864–1955), who served two terms in the U.S. House of Representatives (1915-1919) prior to being elected president of the William Carter Company in 1918; Mary Elizabeth Carter (1865-1961); John J. Carter (1867-1939); and Horace A. Carter (1869-1959). By the early 1960s, the William Carter Company manufactured at seven mills in Massachusetts and the south. The Carter family sold the business in 1990.

In 2012, Carter's, Inc. announced that Braselton, Georgia would receive their one-million-square-foot, $50 million distribution center that will support their e-commerce, retail, and wholesale businesses. The company hopes to create 1,000 jobs at the facility by 2015.

In February 2017, Carter's, Inc. acquired Skip Hop Inc., an infant and child product company based in New York, for $140 million in cash and up to $10 million in future payments contingent on reaching certain financial goals in 2017.[3] Fireman Capital Partners, a private equity firm, had previously acquired a majority equity stake in Skip Hop Inc. for $50 million in November 2013.[4]

Headquarters

In October 2012 the Atlanta Business Chronicle reported that Carter's Inc. was likely to lease in the Phipps Tower in Buckhead for its headquarters.[5] In December 2012 Carter's Inc. announced that it was moving its headquarters from Midtown Atlanta. The lease of 222,730 square feet (20,692 m2) of space is one of the largest headquarters leases to have occurred to date. The estimated value of the lease, except for concessions and escalation, was $70 million. The lease in Midtown was scheduled to be terminated on December 31, 2013.[6]

The company consolidated its out of state jobs into the new facility, with 200 additional jobs going to Buckhead. Manulife Financial Corp owns both the Proscenium and the Phipps Tower so Carter's terminated its lease early in one building and moved to the other.[7]

The company now has its headquarters in Suite 1800 at Phipps Tower,[8] in Buckhead, Atlanta.

See also

References

  1. ↑ http://ir.carters.com/phoenix.zhtml?c=135392&p=irol-IRHome
  2. ↑ "Company News; Carter's to Acquire OshKosh B'Gosh". The New York Times. 2005-05-11. ISSN 0362-4331. Retrieved 2017-02-24.
  3. ↑ "Carter’s Inc. buys Skip Hop, posts $258.1 million profit for 2016". Atlanta Business Chronicle. 2017-02-23. Retrieved 2017-02-24.
  4. ↑ "Fireman Capital Partners sells Skip Hop Inc. to Carter’s". The Boston Globe. 2017-02-24. Retrieved 2017-02-24.
  5. ↑ Sams, Douglas. "Carter's HQ likely moving to Buckhead." Atlanta Business Chronicle. October 12, 2012. Updated October 22, 2012. Retrieved on May 23, 2013.
  6. ↑ Sams, Douglas. "Carter's moving HQ to Phipps Tower." Atlanta Business Chronicle. December 14, 2012. Updated on December 17, 2013. Retrieved on May 23, 2013.
  7. ↑ "Carter’s moves to Buckhead." (Archive) Atlanta Business Chronicle. p. 2-3.
  8. ↑ "2014 Annual Report." Carter's, Inc. "Phipps Tower 3438 Peachtree Road NE, Suite 1800 Atlanta, Georgia 30326 (Address of principal executive offices, including zip code)"
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.