The firm acquired Shelcore in 2005, a leading manufacturer of infant and preschool toys. Shelcore and Funrise will remain two separate entities and operate independently under its current management structure.
"We're very excited to become part of the Matrix family," exclaims Arnie Rubin, Funrise founder and chief executive. "Together, we will continue to build the Funrise brand here in the United States as well as abroad," he adds.
"For almost two decades, Funrise has been a leader in the development of innovative and creative products," says Michael Greenberg, CEO of Matrix Holdings. "We are proud to welcome such an established and preeminent brand into the Matrix family as we continue to build our business domestically and internationally," he adds.
Founded in 1987, the Funrise portfolio includes Gazillion Bubbles, and Tonka.