phil&teds keeps Mountain Buggy Kiwi

www.philandteds.com
Media Release
25 March 2009

phil&teds keeps Mountain Buggy Kiwi

New Zealand juvenile company, phil&teds, today announced that they have been successful in acquiring Mountain Buggy.

Rather than a ‘takeover’, phil&teds see the investment as a way to retain the iconic kiwi company with local ownership.

“We’ve had to move quickly. Mountain Buggy are a great kiwi brand with a fabulous product set, a bunch of very clever people, and obvious synergies to our own,” said ceo Campbell Gower, phil&teds chief cook & bottle washer, “We’re incredibly excited about adding value and building the business even further."

“There’s a lot we don’t know, and a lot we feel we can learn from Mountain Buggy.

For example, their world class manufacturing programme is compelling. They have some very talented people – we want to unleash their expertise."

phil&teds recently purchased New Zealand’s leading roof rack and automotive accessory business, Hubco. Hubco manufacture in New Zealand, so taking manufacturing offshore is not a company philosophy.

“phil&teds will run the Mountain Buggy factory in New Zealand before making any decisions,” said Campbell, “the key is to be internationally competitive."

“Basically it will be business as usual to ensure that we maintain market confidence in the high quality Mountain Buggy brand and product."

phil&teds are really proving that in a time of economic downturn you can still go gangbusters!

ENDS

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