TORONTO, July 31, 2017 /CNW/ - Spin Master Corp. (TSX:TOY; www.spinmaster.com), a leading global children's entertainment company, today announced the acquisition of certain assets of Aerobie Inc., (www.aerobie.com) a leading producer of outdoor flying disks and sports toys. The transaction closed on July 28, 2017. As Spin Master continues to diversify its product offering, the acquisition demonstrates the company's further focus on the Outdoor business segment, building on the 2016 acquisition of Swimways Corp. (www.swimways.com).
Aerobie was founded in Palo Alto, Calif. by Alan Adler, an engineer and part-time Stanford University teacher who spent his spare time inventing toys. With an interest in aerodynamics, Adler had set out to create better flying toys, resulting in the groundbreaking flying ring format. In 1984, the inventor launched his own company to ensure excellent production quality and the flying ring soon propelled the company's success even receiving a Guinness World Record for the farthest thrown object attributed to the breakthrough design of the flying ring. Aerobie products' exceptional performance have been widely recognized and awarded helping the company reach global success with distribution in over 60 countries.
"Aerobie is a classic award winning brand, built around high-performance product for your everyday outdoor enthusiast," said Anton Rabie, Spin Master's Co-Chief Executive Officer and Co-Founder. "We're proud to include the Aerobie brand within the Spin Master portfolio, and we are focused on preserving the brand's reputation for top quality products that provide hours of outdoor fun for the entire family. The Aerobie acquisition also emphasizes our willingness to invest in smaller companies to create value."
"Acquisitions such as Aerobie are a key part of our overall growth strategy," said Ben Gadbois Spin Master's Global President and COO. "We will further innovate the Aerobie line using our global research and development network, and leverage Spin Master's global sales and marketing infrastructure to grow sales internationally."
Since Spin Master's IPO in 2015, Spin Master has acquired seven companies including the Aerobie sporting goods business and the recently announced Marbles acquisition, in an ongoing effort to continue to grow the company through strategic acquisitions.
Aerobie will be managed by Swimways and will join the Coop family of branded active, outdoor lifestyle products.
About Spin Master
Spin Master (TSX:TOY; www.spinmaster.com) is a leading global children's entertainment company that creates, designs, manufactures, licenses and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer®, Bakugan®, Meccano®, and 2017 Toys of the Year, Hatchimals®, Air Hogs® and PAW Patrol®. Since 2000, Spin Master has received 83 TIA Toy of The Year (TOTY) nominations with 25 wins across a variety of product categories, including 13 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. To date, Spin Master has produced six television series, including 2007 success Bakugan Battle Brawlers and current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 1,500 people globally with offices in Canada, United States, Mexico, France, Italy, United Kingdom, Slovakia, Poland, Germany, Sweden, the Netherlands, China, Hong Kong, Japan, Vietnam and Australia.
SOURCE Spin Master Corp.
For further information: SPIN MASTER CONTACTS: Investors: Mark Segal, Executive Vice President and Chief Financial Officer, [email protected]; Media and Other: Tara Tucker, Vice President, Global Marketing Communications, [email protected]