Canadian toy company Spin Master has strengthened its portfolio with the aquisition of construction brand Meccano.
Following the aquisitions of Spy Gear and Perplexus, this deal is helping the firm's continued move into new categories.
“We are extremely happy to be part of Spin Master and are excited with the culture and track record of continuous innovation,” said Michaël Ingberg, chief executive officer of Meccano.
“I have the utmost respect and confidence in the Spin Master leadership team and am eager to help Spin Master position Meccano as an even stronger competitor in the construction category.”
Spin Master has grown nearly 20 per cent YTD 2013 and remains focused on building upon toy lines 'through the creation of entertainment properties, companion applications, games and digital experiences that are suited for changing consumer play patterns'.
“Meccano is iconic," said Spin Master Co-CEO Anton Rabie.
"It was founded in 1901 and has always been about creating toys that enable children and adults to imagine and create completely new worlds. This classic construction system has stood the test of time with phenomenal lines and we are looking forward to building a future together.”
Meccano's manufacturing base and industrial facilities will remain in Calais, France to aid serviceability to European markets.
“We are pleased to welcome Meccano and all its employees to Spin Master and are eager to grow the brand through our innovation process and distribution network," said Ben Gadbois, Spin Master’s Global President and Chief Operating Officer.
"We want to thank the Meccano leadership team, 21 Centrale Partners and Lincoln International for the hard work and diligence through the acquisition process.”