The strategic move is just the latest in a string of mergers and acquisitions that have occurred across the toy industry over the past 18 months.
Never Wrong Toys now enters the construction category with the addition of Laser Pegs’ illuminated collection of interlocking bricks.
“I’ve always felt like there was something special about this brand,” says Eva Wong, general manager of Never Wrong Toys. “It gives off a unique yet attractive and exciting feel, which is why we felt that Laser Pegs would be a great brand to acquire; we are very excited to brighten up the construction aisle.”
Founded by Wong and Markan Industrial in 2018, Never Wrong Toys creates action figures, games, novelties, and more.
“We are excited and ready for Laser Pegs to be reimagined and back on top of the construction toy market,” says Ross Smith, chief revenue officer at Laser Pegs. “We are grateful to be working with a distinguished toy company like Never Wrong Toys and can’t wait to see what’s in store.”
Smith, who joined Laser Pegs in 2016, will work with Never Wrong Toys in its efforts to build out the brand globally.
Laser Pegs will showcase its full range of new products in booth No. 2081 at Toy Fair New York, taking place from Feb. 22-25 at the Jacob K. Javits Convention Center.
Click here to view the Toy Book’s full coverage of Toy Fair New York.