STAMFORD, CT -- BEV Capital completed, in December 2003, an investment in
Bendon Publishing International, a publisher of "value priced" children's
books. Key elements of the investment decision included: an
entrepreneurial management team with strong domain expertise, significant
early success in securing licenses and distribution, and an attractive
business model that is already generating profits. BEV was the sole
investor in a $4.0 million financing round.
Bendon designs, contract manufactures, and markets various
formats of books for children. These include coloring books, activity books, and board books.
The products are "value priced" and typically sell for $5.00 or
less. Most of Bendon's products are built around license properties
(e.g., NASCAR, The Muppets, Arthur) although the company also develops unlicensed products.
Based on the experience and connections of the management team,
Bendon has achieved significant distribution and sales for its products
across all the major retail channels and players in less than two years.
The company achieved $9.0 million in revenues for 2003 and was profitable.
In addition, the company imminently expects to sign new major license
properties that will help it to achieve its goal of becoming the leader in
the children's publishing market.
Bendon's headquarters are
located in Ashland, Ohio. To learn more about Bendon and its product
lines, visit the company's website www.bendonpub.com
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