Global toy company Toy State has secured the worldwide rights to R/C specialist Nikko by acquiring the consolidated operations of its Japan and Hong Kong offices.
Toy State has also acquired the firm's European arm, Nikko Entertainment BV.
“Over the last 30 years, we have grown Toy State into a global player through a relentless focus on quality and innovation,” said Simon Cheng, Toy State’s CEO and founder.
“Nikko’s own long history of quality and innovation make it a compelling fit to join the Toy State family.
“This acquisition is a powerful move for Toy State, because it gives us more critical mass in the key global R/C category, and strengthens our already strong retail position.”
Founded in 1958, Nikko manufactures a wide range of R/C toys spanning custom vehicles, boats, flying items and pre-school R/C toys.
Nikko has also thrived via licensing partnerships with leading global brands including Transformers, Hello Kitty, Fast & Furious and Angry Birds.
The acquisition gives Toy State new offices in Amsterdam and Japan, as well as an expansion of its current Hong Kong headquarters. The company’s US office is located in Boston, Massachusetts.
“The Nikko line of products will significantly enhance our retail offering and footprint, and supercharge Toy State’s profile in R/C vehicles,” said Andy Friess, senior VP of marketing and general manager of the company’s US operations.
“And we couldn’t be more thrilled to add Nikko’s current licensing relationships to our portfolio.
"We’ve enjoyed the benefits of high-impact licensed properties in our current programs, and we’re excited to begin developing product with Nikko’s roster of iconic brand partners.”
Toy State claimed the strength of the Nikko brand and its distribution network internationally were 'major factors' in the firm's pursuit of the company, with the acquisition acting as a platform for continued expansion into Europe.
Toy State now plans to use its marketing and sales expertise to 'restore Nikko’s popularity' in the US.
Terms of the transaction between the two privately-held companies were not disclosed.