Spin Master Announces the Purchase of Etch A Sketch and Doodle Sketch from The Ohio Art Company
Toronto (ots/PRNewswire)
Spin Master Corp., ("Spin Master") (TSX: TOY) - a leading global children's entertainment company - today announced that it has acquired the iconic Etch A Sketch and Doodle Sketch brands from The Ohio Art Company. The acquisition includes all brand-related patents, trademarks, tooling and inventory for the brands.
Spin Master has built a reputation for acquiring legacy brands and infusing them with unexpected innovation. When Spin Master acquired Meccano in 2013, its engineers and designers brought new life to the brand with the introduction of robotic technology.
Now, Spin Master plans to bring this same spirit of innovation to its latest acquisition. Spin Master also plans to increase the distribution of Etch A Sketch and Doodle Sketch by leveraging its global sales and partnership networks.
"We want to hear from inventors, creators and designers who love Etch A Sketch and Doodle Sketch," said Anton Rabie, Chair and Co-Chief Executive Officer, Spin Master Ltd. "These toys have been popular for more than 50 years and we look forward to building on this foundation of fun and creativity," he added.
This announcement follows on Spin Master's recent purchase of Editrice Giochi SRL, producer of games in Italy for more than 70 years, and Cardinal Games in 2015, a leader in toys and games for more than 60 years. Etch A Sketch and Doodle Sketch are now the latest additions to the award-winning toy company's dynamic range of activities and games, which include Kinetic Sand, Headbanz and Sew Cool.
"We are always open to exploring new relationships and part of our success is seeing potential that others might overlook," said Ben Gadbois, Global President and COO, Spin Master Ltd. "Etch A Sketch and Doodle Sketch have a long and trusted history with consumers and we're proud to add them to our portfolio. This acquisition allows us to create an Arts & Crafts super-category by developing and distributing new products under both brands," he added.
The transaction was finalized today.
About Spin Master Corp.
Spin Master Corp. (TSX:TOY) is a leading global children's entertainment company that creates, designs, manufactures and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Bakugan, Air Hogs®, Spin Master Games(TM) and the 2015 Toy of the Year, Zoomer(TM) Dino. Since 2005, Spin Master has received 63 TIA Toy of The Year (TOTY) nominations with 14 wins across a variety of product categories. Spin Master has been recognized with 12 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. Spin Master is among a limited number of companies that not only develop and produce global entertainment properties, characters and content, but also monetize that content through the creation, sale and licensing of products. To date, Spin Master has produced five television series, including 2007 hit series Bakugan Battle Brawlers(TM) and its current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 950 people globally with offices in Canada, United States, France, Italy, United Kingdom, Slovakia, Germany, Holland, Mexico, China, Hong Kong and Japan.
Tara Tucker, Vice President, Global Marketing Communications, Spin Master Ltd., tarat@spinmaster.com, +1-416-768-5295