Spin Master Ltd. has entered into an agreement to purchase Cardinal Industries Inc., one of the oldest privately held toy companies in the U.S. The acquisition will enable Spin Master to expand its selection of games, puzzles, and licensed products. Cardinal will continue to operate as an independent entity, while benefiting from Spin Master’s global scale and infrastructure.
“Cardinal has been a recognized leader in games and puzzles for more than 60 years, and Spin Master looks forward to building on that legacy in the years to come,” says Ben Gadbois, global president of Spin Master. “We are so proud that the team’s hard work and our reputation as a trusted partner have put us in a position to add such a well-respected company to the Spin Master family.”
Cardinal’s team will stay headquartered in Long Island City, New York, with President Joel Berger remaining at Cardinal’s helm. The transaction is expected to be completed in early October.
