First Carriers’ baby carriage business will be sold to BMO, a deal the company has been negotiating with its parent company since 2015.
The deal is expected to close this week.
The company announced it would be exiting the carriage business in February 2019, following a series of scandals that included a failed investigation into allegations of inappropriate conduct by its former chief executive, Michael Smith.
The Canadian-based company was taken over by UnitedHealth Group last year, following the departure of Smith and two other senior executives.
The first carriages were originally built in Canada and the United States and operated in countries around the world.