Jakks may also be interested in acquiring the stationery and activities business, according to reports.Former RoseArt Owners, Lawrence and Jeffrey Rosen, may not be the only ones looking to buy RoseArt off Mega Brands.
According to Canada’s Financial Post, Jakks could also be looking at acquiring the business to supplement its own stationery and activities division. The article added that Jakks currently has $241 million in cash.
The report quoted a Jakks spokesperson as saying: “We’re aggressively looking at companies that have complementary product lines or distribution to us.”
Mega Brands plans to sell RoseArt after acquiring it three years ago, in order to aid its recovery. Since its plans have been made public, the firm’s stock has closed up ten per cent to $5.50.
Marc Bertrand, CEO said: "It's not an easy decision, but we think it is the right decision for the company and its stakeholders."