ATLANTA, March 16 /PRNewswire-FirstCall/ -- Carter's, Inc. (NYSE: CRI) (the "Company"), the largest branded marketer in the United States of apparel exclusively for babies and young children, announced today that Ross M. Jones, Managing Director of Berkshire Partners LLC, a Boston-based private equity firm, has resigned from the Company's Board of Directors effective as of the end of the Board of Directors meeting immediately following the Company's May 11, 2006 annual meeting of stockholders.
"It has been my great privilege to serve on the Carter's Board and to work closely with Carter's management during the last five years," said Mr. Jones. "While I am moving on to focus on other Berkshire Partners' companies, I look forward to following Carter's future success."
"Ross's contribution to Carter's over the last five years has been invaluable," said Fred Rowan, the Company's Chairman and Chief Executive Officer. "Carter's has benefited significantly from its relationship with Ross and Berkshire Partners. We wish Ross all the best in pursuing new investment opportunities."
Berkshire Partners acquired the Company on August 15, 2001. At the time of the acquisition, Mr. Jones and Mr. Bradley M. Bloom, also a Managing Director of Berkshire Partners, became members of the Company's Board of Directors. Since the acquisition, Berkshire Partners has reduced its ownership of the Company's common stock to approximately 13%. Mr. Bloom will continue to serve on the Company's Board of Directors.
About Carter's, Inc.
Carter's, Inc. is the largest branded marketer in the United States of apparel exclusively for babies and young children. Carter's markets its Carter's and OshKosh B'Gosh brands, two of the most trusted and recognized brands in the marketplace. These brands are sold in more than 4,000 department and national chain stores and through more than 330 Company- operated stores. The OshKosh B'Gosh brand is also sold in more than 50 countries worldwide. Carter's Child of Mine and Just One Year brands are available at Wal-Mart and Target, respectively. OshKosh B'Gosh's Genuine Kid's brand is sold at Target. Carter's is headquartered in Atlanta, Georgia. Additional information may be found at http://www.carters.com.
About Berkshire Partners LLC
Berkshire Partners has invested in mid-sized private companies for the past twenty years through six investment funds with aggregate capital commitments of approximately $3.5 billion. The firm's investment strategy is to seek companies that have strong growth prospects and to partner with talented management teams who are interested in being owners of the companies they operate. Berkshire has developed specific industry experience in several areas including consumer products, retailing and related services, transportation, communications, industrial manufacturing, and business services. The firm's transactions have taken various forms including acquisitions, growth equity investments, and turnarounds. Berkshire has been an investor in over 85 operating companies with more than $13.0 billion of acquisition value and combined revenues in excess of $20.0 billion. Additional information may be found at http://www.berkshirepartners.com.
Contact:
Eric Martin
Vice President, Investor Relations
(404) 745-2889
SOURCE Carter's, Inc.