Skip to content
AidData logo

Overview

Bank of China provides $98 million USD loan to Goodbaby International Holdings Limited for the acquisition of WP Evenflo Group Holdings, Inc

Commitments (Constant USD, 2023)$100,504,212
Commitment Year•2014Country of Activity•United StatesDirect Recipient Country of Incorporation•Cayman IslandsOverseas Jurisdiction•United StatesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 6, 2014
Start (actual)
Jul 23, 2014
End (actual)
Jul 23, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Goodbaby International Holdings Limited

Loan description

Bank of China provides $98 million USD loan to Goodbaby International Holdings Limited for the acquisition of WP Evenflo Group Holdings, Inc

Interest type•Unknown

Narrative

Full Description

Project narrative

In or around June 2014, the New York Branch of the Bank of China (BOC) entered into a $98 million USD ($759.89 million HK) loan agreement with Goodbaby International Holdings Limited — a Cayman Islands-incorporated, Shanghai, China-headquartered baby and children's products company — for the acquisition of a 100% equity stake in WP Evenflo Group Holdings, Inc., a United States-incorporated company, specializing in juvenile safety and feeding products. WP Evenflo specializes in the research, development, and manufacture of durable baby and toddler products such as strollers, cribs, tricycles, bicycles, and car seats. It supplies infant and juvenile products to retailers including Toys “R” Us, Babies “R” Us, Wal-Mart, Target, Buy Buy Baby, and Kmart. On June 6, 2014, the parties had entered into the agreement for the acquisition. The acquisition was completed on July 23, 2014.