Carter’s, Inc. (NYSE:CRI) announced today it has entered into an agreement to buy Bonnie Togs, a children's apparel retailer based in Toronto, Canada, for about $98 million.Bonnie Togs focuses exclusively on the children's apparel and accessories marketplace, while Carter's is the largest branded marketer of apparel exclusively for babies and young children in the U.S.In the twelve month period ended May 2011, Bonnie Togs generated sales of approximately CAD $100 million, a 30% increase over the previous twelve-month period.Bonnie Togs operates 59 stores in Canada and sells products under the "Carter's" and "OshKosh B'gosh" brands, as well as other private label and other national brands. The company has been Carter's principal licensed retailer in Canada since 2007, and is Carter's most significant international license.Michael D. Casey, Carter's Chairman and Chief Executive Officer said, "The acquisition of Bonnie Togs is an important component of our long-term strategy to extend the reach of our Carter's and OshKosh B'gosh brands to consumers in international markets. We are excited to add this successful, high-growth retail business and experienced management team to our company. We see significant potential for growth in Canada, with an opportunity to operate approximately 160 stores contributing total annual revenues of more than $200 million by 2016."