D.A. Davidson Acts as Financial Advisor to Manhattan Toy on Its Sale to Crown Crafts

March 28, 2023

D.A. Davidson & Co. announced today that it served as the exclusive financial advisor to Manhattan Toy and its parent company H Enterprises International, in the sale of Manhattan Toy to Crown Crafts (NasdaqCM: CRWS). Based in Minneapolis, Minn., Manhattan Toy is a leading creator of developmental toys for early childhood with a 45-year heritage of bringing joy to children and parents. Its award-winning portfolio includes more than 500 products across multiple categories, including toys, dolls, plush products, games, and books.

“The sale of Manhattan Toy to Crown Crafts is a phenomenal outcome for the company and its team and I’m excited to see the continued growth of Manhattan Toy under the ownership of Crown Crafts,” said Nora Quinlan O’Leary, President of Manhattan Toy. “D.A. Davidson’s Consumer team had a deep understanding of the juvenile products category, strong relationships, and their strategic advice was critical to ensuring this successful outcome.”

“We are longtime admirers of Manhattan Toy and are thrilled to have had the opportunity to work with Nora and the rest of her team on this transaction. In addition, we are pleased to see the business find such a great home in Crown Crafts,” said Danny Friedman, Managing Director in D.A. Davidson’s Consumer Investment Banking Group. “This transaction further exemplifies the strength of our consumer franchise and, in particular, our leading infant, juvenile & toy practice.”

D.A. Davidson’s Consumer Group has a reputation for its depth of industry knowledge, breadth of capabilities, and tenacity of its senior professionals. Offering sector-specific expertise through a full-service platform, the team provides M&A, strategic advisory, and equity capital markets capabilities across several subsectors, including active and outdoor; apparel, footwear, accessories & specialty retail; consumer & services; eCommerce & marketplaces; and food & beverage. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 28 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.

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Deal Team Contacts

Joe Schimmelpfennig, Managing Director, Head of Consumer | Irvine | [email protected]
Danny Friedman, Managing Director | Irvine | [email protected]
Will Prioleau, Vice President | Irvine | [email protected]

Media Contact

Andreea Popa, Head of Equity Capital Markets Marketing | [email protected]