Hasbro has officially closed its acquisition of Saban Brands’ Power Rangers and other Entertainment Assets in a combination of cash and stock valued at $522m.
According to Hasbro’s chairman and chief executive officer, Power Rangers will now benefit from execution across Hasbro’s Brand Blueprint and distribution through its omni-channel retail relationships across the globe.
“Informed by engaging, multi-screen entertainment, a robust and innovative product line and consumer products opportunities all built on the brand’s strong heritage of teamwork and inclusivity, we see a tremendous future for Power Rangers as part of Hasbro’s brand portfolio.”
Hasbro previously paid Saban Brands $22.25 million pursuant to the Power Rangers master toy license agreement, secured in February this year.
Upon closing, Hasbro paid $131,23 million in cash and an additional $75 million will be paid on January 3 next year. These payments are being funded by cash on the company’s balance sheet.
In addition, the company issued 3,074,190 shares of Hasbro common stock to Saban Properties, valued at $270 million.
The first set of Power Rangers products from Hasbro will be available in spring 2019.
The deal also includes Saban’s My Pet Monster, Popples, Julius Jr, Luna Petunia, Treehouse Detectives and others.