Ontario Teachers' buys stake in tot-product maker
NEW YORK (Reuters) - The Ontario Teachers' Pension Plan, one of Canada's largest investors, has taken a stake in baby and toddler product maker Munchkin.
Privately held Munchkin, whose products include totes and spill-proof cups, did not disclose how much Teachers' was investing, but said in a statement that the pension fund's private equity arm had bought a "significant minority stake."
Teachers', which administers the pensions of 289,000 active and retired educators in Ontario, had net assets of C$96.4 billion as of December 31. It said last week that its annual rate of return was 13 percent in 2009.
Teachers' led a private equity group that last week said it had acquired Exal Group, the world's largest specialty maker of aluminum containers.
Other Teachers' investments include vitamin supplement retailer General Nutrition Centers Inc and Simmons Bedding Co.
Retailers that carry products by Munchkin, which is based in North Hills, California, include Target Corp (TGT.N).
(Reporting by Phil Wahba; additional Abhiram Nandakumar in Bangalore; Editing by Lisa Von Ahn, Dave Zimmerman)
- A top Federal Reserve official who is sometimes seen as a bellwether for U.S. monetary policy on Monday offered his voice to a growing contingent at the central bank that has argued for reducing the Fed's bond buying at a meeting next week.
SAN FRANCISCO - At Pinterest, the four-year-old online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company's board of directors is 100 percent male. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.