Acquisition of certain assets of Aerobie announced, a leading producer of outdoor flying disks and sports toys.
The transaction closed on 28th July. As Spin Master continues to diversify its product offering, the acquisition demonstrates the company’s further focus on the outdoor business segment, building on the 2016 acquisition of Swimways.
Aerobie was founded in Palo Alto, Calif. by Alan Adler, an engineer and part-time Stanford University teacher who spent his spare time inventing toys. With an interest in aerodynamics, Alan had set out to create better flying toys, resulting in the groundbreaking flying ring format. In 1984, the inventor launched his own company to ensure excellent production quality and the flying ring soon propelled the company’s success, even receiving a Guinness World Record for the farthest thrown object attributed to the breakthrough design of the flying ring. Aerobie products have been widely recognised and awarded, helping the company reach global success with distribution in over 60 countries.
Anton Rabie, Spin Master’s co-chief executive officer and co-founder, commented: “Aerobie is a classic award winning brand, built around high-performance product for your everyday outdoor enthusiast. We’re proud to include the Aerobie brand within the Spin Master portfolio, and we are focused on preserving the brand’s reputation for top quality products that provide hours of outdoor fun for the entire family. The Aerobie acquisition also emphasises our willingness to invest in smaller companies to create value.”
Ben Gadbois, Spin Master’s global president and COO, added: “Acquisitions such as Aerobie are a key part of our overall growth strategy. We will further innovate the Aerobie line using our global research and development network, and leverage Spin Master’s global sales and marketing infrastructure to grow sales internationally.”
Aerobie will be managed by Swimways and will join the Coop family of branded active, outdoor lifestyle products.