Cdn. toy manufacturer completes acquisition of Melissa & Doug

Spin Master Completes Acquisition of Melissa & Doug, A Trusted Brand in Early Childhood Play (CNW Group/Spin Master Corp.)

TORONTO — Spin Master Corp., a global children’s entertainment company, announced that it has completed its previously announced acquisition of U.S.-based Melissa & Doug, a brand in early childhood play, for $950 million.

With a mission to reportedly ignite imagination and a sense of wonder in children, Melissa & Doug is a brand that is sought after for families seeking sustainable wooden toys and screen-free play.

“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,” said Max Rangel, Spin Master’s Global President and CEO. “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.”

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. As part of the closing of the transaction, the parties have agreed to eliminate the additional contingent earnout consideration of up to $150 million, previously announced on October 11th.