Spin Master acquires Swimways

‘We are well-equipped to significantly grow Swimways' brands both domestically and internationally through our strong retail relationships and global sales network’, says Spin Master’s Ben Gadbois.
Author:
Publish date:
Spin Master.png

Spin Master is set to enter the water and outdoor category thanks to its latest acquisition of Swimways Corporation.

Boasting a range of toys, games and sporting goods for the pool and beach, the Swimways’ collection also offers a line of licensed pool toys from a number of entertainment franchises.

"Spin Master is committed to growth through diversification, innovation, expanding our global presence and making strategic acquisitions. With the Swimways acquisition, we can do all of these,” said Ben Gadbois, president and COO of Spin Master.

“We are well-equipped to significantly grow Swimways' brands both domestically and internationally through our strong retail relationships and global sales network, while leveraging our internal innovation expertise and our network of inventors around the world to develop new products.”

The purchase price for the acquisition by Spin Master will be satisfied by $85 million in cash on closing.

David Arias, corporation president at Swimways, added: “We're excited to join the Spin Master family today. This will allow Swimways and its brands to grow and expand by harnessing Spin Master's global infrastructure.

“We share a spirit of innovation, expertise in maximising licensing partnerships and a commitment to quality that will provide a strong foundation for growth moving forward."

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.