Jakks eyes further acquisitions?

Jakks CEO says its prospect of completing an acquisition is growing.
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After recording healthy financial results for 2007, Jakks looks to continue growing its empire, according to Play Things.

The firm continues to “evaluate potential acquisition opportunities and expect to continue to grow our business by actively pursuing complementary acquisitions and executing on internal growth initiatives, including creating new products and securing new licenses, to provide continued growth,” the report said

During a conference call with analysts after the firm’s financials were released, Jack Friedman, chairman and CEO said: “We have been negotiating with some companies in the past few years, and until about six months ago we thought that people had valuations for the businesses way too high for our taste.

“I think that came from all of the private equity money around and things of that nature. I think valuations have come down in people's mind considerably. And we are looking seriously at a few deals right now.”

The firm also aims to increase its net income and met sales of by at least four per cent.

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