Alex Brands is growing its international stronghold with the acquisition of active toy firm, Buzz Bee Toys.
The firm has made the move in the same month that it opens its first direct UK channel, transferring from its previous sole distributor, Cuckoo.
The transition will see Alex Brand operate its European business from within the UK, with all shipments due to commence from June 1st this year.
Under the new acquisition, Alex Brands will distribute the Buzz Bee Toys range across the UK as it joins a burgeoning portfolio of popular names, including Alex Toys, Slinky, Zoob and Shrinky Dink.
“This acquisition is yet another step in our strategy of building Alex Brands into a home of best-in-class brands in the toy industry and an indication o our strong belief in the health and vitality of this sector,” said Michael Cornell, chairman and CEO of Propel Equity Partners.
The Buzz Bee Toys portfolio of brands includes Air Warriors, Water Warriors and Ruff Stuff.
“The addition of Buzz Bee Toys builds on the momentum that Alex Brands has been generating, most recently through our licensing partnership with Nickelodeon and the incorporation of Shrinky Dinks into our family of brands,” added Neil Friedman, president and CEO of Alex Brands.
“Through this series of acquistions and announcements, Alex Brands is further enhancing its position as a leading provider of brands that play a central role in helping children develop their creativity and imagination, as well as keeping them physically active.”
Meanwhile, Jeff Zimmerman, CEO of Buzz Bee Toys, is thrilled with the acquisition.
“We see tremendous possibilities for growth by working with the Alex Brands team and alongside the other brands in the group,” he said.