$680 million acquisition ends months of rumours.
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.”
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