Basic Fun! purchased the assets of K’NEX, the Pennsylvania-based construction toy company. K’NEX joins Tech 4 Kids and Uncle Milton as the latest addition to the new Basic Fun! company.
“We are very pleased to be adding this incredible iconic toy brand into our platform,” says Jay Foreman, CEO of Basic Fun! “The K’NEX story is a great American toy story in every way—from its inception as a toy invention, to its unique manufacturing profile, to being recognized by consumers and the trade as a distinctive construction platform in one of the most challenging categories in the toy industry.”
Basic Fun! plans to continue to manufacture K’NEX rods and connectors at the eco-friendly manufacturing facility in Pennsylvania under a long-term agreement with The Rodon Group, and will continue to operate the K’NEX office and distribution center in Hatfield, Pennsylvania.
“K’NEX was invented by Joel Glickman, one of the company’s founders, and our family has been operating this business for over 25 years,” says Michael Araten, current CEO of K’NEX. “It’s time for us to connect this wonderful brand and its innovative product line with new owners whom we expect will take K’NEX to new heights over the next 25 years. We are proud to have built an iconic brand that has inspired creativity in millions of children, young and old, all over the world.”
Both companies will showcase 2018 product lines at the North American International Toy Fair in separate displays on the main floor of the Jacob K. Javits Convention Center. The companies’ products will come together in subsequent shows later this year.
The Bridge Direct acquired Basic Fun! and its owner, The Good Stuff Corporation, in 2013. The company began to put its portfolio of brands and companies together and moved forward as Basic Fun! in order to establish its new identity in the industry. The company will continue to market its key sub-brands under the Basic Fun! banner, including amusement division Good Stuff, STEM toys under Uncle Milton, and now K’NEX.
