Kid Brands wins court approval for $14 million sale of Sassy assets

By Caroline Salls

Pittsburgh, Aug. 12 – Kid Brands, Inc. obtained court approval to sell substantially all the assets of subsidiary Sassy, Inc. for $14 million to Sassy 14, LLC, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of New Jersey.

Assets in the sale include property leases, all intellectual property of Sassy, Inc., all permits related to the operation of the business and liabilities up to $300,000, according to the motion.

Kid Brands said that carrying out a private sale is more beneficial to the estate because of the expense and delay caused by a public auction.

Kid Brands, an East Rutherford, N.J.-based designer, importer, marketer and distributor of infant and juvenile consumer products, filed for bankruptcy June 18. The Chapter 11 case number is 14-22582.

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