The US toy firm PlayMonster has acquired the assets of the arts and crafts toy company Kahootz Toys, including licensed rights to the iconic Spirograph and Play-Doh.
The move has been cited as the latest big step in solidifying PlayMonster’s growth as a multi-category toy and game company. Through the acquisition of Kahootz, it now brings on board 17 award winning brands such as Y’Art, Colorforms, Fashion Plates, Latchkits, and Waterfuls.
Founded in 2012, Kahootz grew quickly with several programs, including the relaunch of the iconic brand Spirograph, under license with Hasbro. Today that brand stands as one of the strongest performers in the category.
More recently the company saw success with brands like Colorforms in partnership with 9 Story Entertainment, and Fashion Plates. This year the company was awarded the ASTRA Best Toys for Kids award, and is a TOTY finalist for Creative Toy of the Year with a new line, Y’ Art.
Meanwhile, over the past few years, PlayMonster has made several acquisitions to strengthen its position in the toy industry, highlighting Kahootz Toys as a natural fit with its commitment to classic and quality play.
Bob Wann, chief PlayMonster of PlayMonster LLC, said: “This is PlayMonster’s largest acquisition to-date and we’re thrilled to continue our multi-category growth strategy building and adding classic brands while expanding our footprint in the activity and stationery aisles.
“Kahootz has shown a commitment to providing innovative products to kids of all ages, and this philosophy aligns with our mission to make a positive difference in people’s lives through the power of play. Their team has done an outstanding job, and with our help, will continue to grow the Kahootz brand at retail.”
“We are very excited to be joining PlayMonster and the Audax Private Equity family of companies,” said Joe Yassay, CEO and founding partner of Kahootz Toys. “The addition of our products to PlayMonster’s already impressive portfolio of children’s toys and games is a win-win for everyone involved–our companies, licensors, suppliers and customers.
“We look forward to helping PlayMonster champion the power of play by supporting continued growth and market penetration in the mass, specialty and international marketplaces.”
Bambini Partners, LLC acted as Special Advisors to Kahootz Toys in connection with this transaction.