Dan Finanz AG, a financial division owned by Hape Holding AP founder Peter Handstein, acquired Playwell Enterprises Ltd., a Canadian-based distributor of children’s products.

The acquisition allows Hape to further extend its reach into Canada, and lays the foundation to expand its offerings to Canadian retailers. The acquisition will drive increased representation with Playwell’s sales and distribution expertise to help retailers manage their inventory through a scalable platform. Hape will focus on the U.S. market with The Edmonton staff and U.S. warehouse.

As part of the acquisition, Vivien Zheng, a senior executive with Hape for more than 15 years, will join the Playwell team. Playwell’s founder and CEO Henry Lim will continue to serve as president for the next two years.