Ravensburger has acquired Swedish toy company Brio.
The group picked up the firm from Swedish investor Proventus, which has been the main owner of Brio for over ten years.
Brio will continue to operate as an independent subsidiary within the Ravensburger group, based in Malmo under its existing management. The acquisition also includes the company Alga, the Swedish market leader in board games.
"The purchase of Brio is consistent with Ravensburger's strategy of increasing growth abroad and expanding from the games market into the toy market," said Karsten Schmidt, Ravensburger chairman.
While Ravensburger is primarily known as a board game and puzzle company (as well as a book publisher), the acquisition will enable it to strengthen its position as a toy company, uniting two strong brands under one umbrella.
"Brio is a strong brand and a perfect match for Ravensburger," commented Clemens Maier, the Ravensburger board member responsible for Brio. We look forward to working with a strong and competent team."
Heikki Takanen, chairman of Brio Holding AB, added: "We are pleased that Brio will join the Ravensburger group. This will add new long-term opportunities and accelerate growth."