The Florida-based toy company, Basic Fun has received a “significant equity investment” from Falcon Investment Advisors, as the firm pursues its goal of becoming the “next great American toy story.”
Basic Fun is looking to achieve this through organic growth, as well as the acquisition and consolidation of smaller toy companies in the ‘wake of the ever-changing retail marketplace.’
Following the merger of The Bridge Directo and Tech 4 Kids, which formed the new Basic Fun outfit, the company has progressed with the acquisition of two STEM-focused companies in Uncle Milton and Geoworld in 2017, as well as the take over of K’NEX in early 2018.
The company now believes that the investment from Falcon is an indication of the confidence in the Basic Fun business model and its management team. The company is looking to scale up with the goal of breaking the top ten global toy companies list over the next few years.
:”We couldn’t be more pleased than to have the support of the Falcon team,” said Jay Foreman, CEO of Basic Fun. “We have gotten to know Falcon over the past year and believe the team’s knowledge and expertise will help accelerate and finance our growth and acquisition plans.”
The company’s chairman, John MacDonald, added: “Together with our financial partner, the company is poised for dynamic growth and is extremely well positioned to navigate through, grow and thrive in today’s evolving retail landscape.”