Mattel is to acquire Hit Entertainment for $680 million in cash from a consortium led by Apax Partners funds.

“Mattel is the right home for Thomas & Friends. This powerhouse brand is joining the ranks of such iconic brands as Barbie, Hot Wheels, Fisher-Price and American Girl,” said Robert A. Eckert, chairman and chief executive officer of Mattel.

“Thomas & Friends routinely ranks among the world’s leading pre-school toys. Additionally, with more than half of the Thomas & Friends revenue generated from non-toy products, this transaction will marry Mattel’s global marketing, distribution and brand management capabilities with Hit Entertainment’s global programming and licensing expertise to accelerate growth of the combined portfolio.”

To read the full story, head to ToyNews Online, by clicking here.

Advertisement