Press release from Business Wire
JAKKS Pacific to Acquire Moose Mountain Toymakers
Monday, August 08, 2011
MALIBU, Calif. (Business Wire) -- JAKKS Pacific, Inc. (NASDAQ:JAKK) announced today that it has entered into an agreement to acquire Hong Kong-based Moose Mountain Toymakers Limited (“Moose Mountain”), a leader in the sale and manufacture of sports arcade products, foot to floor ride-ons, tents, safe soft play environments, arcade pinball games and wagons.
U.S. toymaker JAKKS Pacific, Inc. (NASDAQ:JAKK) to acquire Moose Mountain Toymakers Limited, a leading manufacturer of sports arcade products, foot to floor ride-ons (such as the one pictured here), tents, safe soft play environments, arcade pinball games and wagons. (Photo: Business Wire)
JAKKS Pacific will be acquiring all of the shares of stock of Moose Mountain, a 15-year-old, privately held company and its Parsippany, NJ-based affiliate, Moose Mountain Marketing, Inc. The business includes licenses for well-known characters and brands, and its children's product lines are complementary to JAKKS Pacific's wide-ranging product portfolio.
“We believe these well-established and innovative product lines add to the breadth and depth of our extensive portfolio,” commented Stephen Berman, president and CEO, JAKKS Pacific. “Moose Mountain brings tremendous experience and talent in designing and manufacturing distinctive product lines and we look forward to expanding our offerings into new product categories.”
“JAKKS Pacific is the ideal long-term home for our business and the dedicated personnel who have built this business over the past 15 years,” said Ron Lokos, president of Moose Mountain. “We believe that as part of JAKKS, with their wide-ranging distribution and extensive manufacturing capabilities, this business will be well positioned to create exciting opportunities and synergies for meaningful future growth. “
The transaction is scheduled to close in the third quarter of 2011, subject to third party approvals and other customary closing conditions.
For more info on Moose Mountain Toymakers, please visit http://www.moosemountaintoys.com/
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer and marketer of toys and consumer products, with a wide range of products that feature some of the most popular brands and children's toy licenses in the world. JAKKS' diverse portfolio includes Action Figures, Electronics, Dolls, Dress-Up, Role Play, Halloween Costumes, Kids Furniture, Vehicles, Plush, Art Activity Kits, Seasonal Products, Infant/Pre-School, Construction Toys and Pet Toys sold under various proprietary brands including JAKKS Pacific®, Creative Designs International™, Road Champs®, Funnoodle®, JAKKS Pets™, Plug It In & Play TV Games™, Kids Only!™, Tollytots® and Disguise™. JAKKS is an award-winning licensee of several hundred nationally and internationally known trademarks including Disney®, Nickelodeon®, Warner Bros.®, Ultimate Fighting Championship®, Hello Kitty®, Graco®, Cabbage Patch Kids® and Pokémon®. www.jakks.com
This press release may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release. © 2011 JAKKS Pacific, Inc. All rights reserved.
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JAKKS Pacific, Inc.
Joel Bennett, 310-455-6210
Anne-Marie Feliciano, 310-455-6245