By Reyne Rice, Toy Trend Expert and Youth Market Specialist
First posted on the YourToyCom.com blog forum and community website serving the toys, games and childrens’ technology industries, on behalf of the Spielwarenmesse. Spielwarenmesse is the leading and largest International ToyFair in the world, held annually in Nuremberg, Germany in early February.
Certainly breaking news, timed to coincide with opening day of the largest International Toy event of the year, the opening of the 2012 Spielwarenmesse International Toy Fair Nuremberg, Mattel announced that it completed its acquisition of HIT Entertainment today. In a statement released to the media less than an hour ago, Mattel reported:
“Mattel, Inc. (NASDAQ:MAT) announced today that it completed the acquisition of HIT Entertainment from a consortium of funds led by Apax Partners for 680 million in cash. HIT Entertainment is one of the largest independent owners of preschool intellectual property, including Thomas & Friends®, Barney®, Bob the Builder®, Fireman Sam® and Angelina Ballerina®. The Company previously announced its proposed acquisition of HIT Entertainment by press release on October 24, 2011.”
A young boy enjoys playing with Thomas & Friends(R) toys. (Photo: Business Wire)