American Children'S Clothing Manufacturer Carters&Nbsp; Inc Bought Bonnie&Nbsp; Togs

Beijing time June 23rd morning news, American children

Carters said the acquisition would help expand its international presence.

The company says Canada has huge growth opportunities and expects to operate about 160 stores there by 2016, bringing in more than $200 million a year.

Carters will pay about $62 million in cash when the paction is completed, and will pay another $36 million over the next 4 years if the acquired business achieves a specific profit target.

Bonnie Togs is headquartered in Toronto and has 59 stores in Canada, including 37 shops with the same name and 22 Carters/OshKosh Bgosh stores.

Carters said the acquisition is expected to be completed in the next 45 days and will boost its earnings growth after adjusted 2011 fiscal year.

Carters is headquartered in Atlanta and owns more than 500 stores.