Spin Master has completed its acquisition of Melissa & Doug, a company that focuses on early childhood play through its sustainable wooden toys. Plans to acquire Melissa & Doug for $950 million were revealed in October.
Both parties agreed to eliminate the additional contingent earnout consideration of up to $150 million.
“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,” says Max Rangel, Spin Master’s Global President and Chief Executive Officer.
The transaction furthers Spin Master’s reach in both specialty retail and e-commerce channels. It also provides a recurring product portfolio with a varied revenue base and opportunities for long-term growth.
“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,” Rangel continues. “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.”
