The Merger of the Decade
ExchangeEveryDay
USA, Issue: 1131
29 Nov 04

In 2003 Knowledge Learning Corporation (KLC), the fourth largest US for profit child care chain, made news when it acquired Children's World Learning Centers, the third largest chain. At the time this was the largest merger in the history of child care in the US. Then in early November 2004, KLC trumped even this news with its acquisition of KinderCare Learning Centers, the nation's largest chain. The merger deal, which is expected to be completed by the end of 2004, calls for KLC to pay $550 million in cash for all outstanding equity in KinderCare, and to assume $490 million of KinderCare's debts.