Jakks Pacific is reportedly nearing a sale to the rival toymaker, Just Play in a bid backed by the private equity firm Cambridge Partners, according to people close to the subject.
Reports suggest that Just Play is in exclusive talks to buy Jakks Pacific in a deal worth 80 cents to 90 cents per share. According to the sources – who have been asked to remain anonymous – a deal could be struck between the two by the end of the month.
It’s known that Jakks Pacific has been exploring a sale for several months, amid a run of heavy losses and a dropping share price. The toymaker took quite a hit last year when Toys R Us went into liquidation in the US and UK. Jakks had generated a large percentage of its revenue through Toys R Us in the US.
Last month, it was Jazwares that was tied to talk around a potential takeover bid for Jakks Pacific, after making an offer to buy the company for 85 cents per share. However, that potential deal was short-lived but quickly followed up with Jazwares’ acquisition of Wicked Cool Toys.
So far, Just Play, Jakks Pacific and Centrebridge have all declined to comment.