Spin Master has entered into an agreement to purchase the privately held US toy firm, Cardinal Industries.
The move arrives as Spin Master positions itself to expand its portfolio of games, puzzles and licensed products.
Based in Long Island, New York, Cardinal offers a range of classic games, innovative puzzles and licensed products for gamers and puzzlers. The Cardinal team will remain headquartered in New York.
The company will operate independently but will now benefit from additional support from the Spin Master team.
“Cardinal has been a recognised leader in games and puzzles for more than 60 years and Spin Master looks forward to building that legacy in the years to come,” said Ben Gadbois, Spin Master’s global president.
“We are so proud that the team’s hard work and our reputation as a trusted partner have put us in a position to add such a well-respected company to the Spin Master family.
“As Spin Master continues to grow, we are eager to work with companies who, like us, have never forgotten their entrepreneur spirit – this spirit is what makes Cardinal such a great partner.”