- Spin Master Corp. has announced it has completed its acquisition of early childhood toy brand Melissa & Doug for US$950 million
- The parties have agreed to eliminate the additional contingent earnout consideration of up to US$150 million, previously announced on Oct. 11.
- Spin Master is a leading global children’s entertainment company best known for award-winning brands such as PAW Patrol and Bakugan
- Spin Master Corp. shares were down 0.79 per cent, trading at C$33.94 at 9:30 am ET
Leading global children’s entertainment company Spin Master Corp. (TSX: TOY) has announced it has completed its acquisition of U.S.-based early childhood toy brand Melissa & Doug for US$950 million.
The transaction expands Spin Master’s reach in specialty retail and e-commerce channels, and provides a recurring, evergreen product portfolio with a diverse revenue base and significant long-term growth opportunities.
“This acquisition brings together two formidable leaders in the toy industry, both driven by a passion to create magical play experiences for children and inspire imaginations on a global scale,” Max Rangel, Spin Master’s global president and CEO, said in a news release. “By adding Melissa & Doug’s complementary product line to our existing toy portfolio we expand our capabilities in early childhood play and further bolster Spin Master’s leadership in the children’s entertainment industry. Our combined expertise, and the addition of Melissa & Doug’s high-quality, open-ended, creative and developmental toys, positions both Spin Master and Melissa & Doug to unlock further growth across new and existing channels and in markets globally.”
As part of the closing of the transaction, the parties have agreed to eliminate the additional contingent earnout consideration of up to US$150 million, previously announced on Oct. 11.
Melissa & Doug is an admired brand that is sought after and trusted by parents and children and relevant for families seeking sustainable wooden toys and screen-free play. Melissa & Doug products provide a launch pad to ignite imagination and a sense of wonder in all children so they can discover their passions and their purpose.
Spin Master Corp. is a leading global children’s entertainment company, creating exceptional play experiences through its three creative centres: Toys, Entertainment and Digital Games. With distribution in more than 100 countries, Spin Master is best known for award-winning brands PAW Patrol, Bakugan, Kinetic Sand, Air Hogs, Hatchimals, Rubik’s Cube and GUND, and is the global toy licensee for other popular properties.
Spin Master Entertainment creates and produces multiplatform content, through its in-house studio and partnerships with outside creators, including the preschool franchise PAW Patrol and numerous other original shows, short-form series and feature films.
Spin Master Corp. shares were down 0.79 per cent, trading at C$33.94 at 9:30 am ET.
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