Propel Equity Partners, a private equity firm, has acquired Buzz Bee Toys, which specializes in active play toys. The acquisition marks the eighth by Propel Equity since August of 2012 on behalf of Alex Brands. Buzz Bee Toys will join the Alex Brands family of brands, which includes Alex Toys, Poof, Slinky, Scientific Explorer, and more.
Hasbro, Inc. has filed lawsuits against Buzz Bee Toys, Inc. and Lanard Toys, Inc. for patent infringement for its Nerf and Super Soaker brands. The lawsuits were filed in the United States Federal Court in Springfield, Mass.
Hasbro is seeking to enjoin both companies from infringing two U.S. patents relating to its Nerf-N-Strike Disc Shot blaster. Additionally, the company has sued Buzz Bee Toys for infringing its Nerf Super Soaker water product patent. Hasbro is also seeking monetary damages from both companies for illegal use of its patented technology.