NEWS

Construction toy specialist K’Nex goes up for sale

Published on: 29th January 2018

K’Nex and its parent company, Smart Brands International, will be auctioned to the highest bidder today. 

This is according to a legal advertisement on Philly.com. The legal notice states that “PNC has received an offer from a third party” and a proposed sale agreement with that buyer sets a price of $21m. The notice also states that “any bid received at the public sale…must be higher or better than the offer contained in the proposed sale agreement.”

A K’Nex spokesperson said on Thursday that they were unable to comment on the possible sale, and a PNC spokesperson said they had no further comment beyond the sale notice. Township officials said on Thursday that they had no knowledge of the auction, but hope the company’s future remains bright, that the company stays in Hatfield, and no jobs are lost in the transition.

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