Jazwares plans to leverage the brands to grow its business through new products and expansion into new territories.
Russ Berrie’s key categories include plush, picture frames, figurines, greeting cards and stationery. Applause, meanwhile, focuses on plush and collectible figurines.
The acquisition comes just months after Jazwares acquired a majority interest in Zag Toys, a division of Zacks Enterprises, in February. Zag Toys specialises in the licensing, design and sourcing of collectibles. Additionally, in February, Jazwares was tapped as the global master toy partner for the entertainment brand Feisty Pets, aiming to expand the brand’s consumer products programme into a 360-degree experience.
Judd Zebersky, chief executive officer and president of both Jazwares and Zag Toys, commented: “Russ Berrie and Applause are leading brands in their respective markets and we are thrilled to add them to the Jazwares and Zag Toys portfolio. We look forward to leveraging the great history of these brands and growing their business through the introduction of new products and the entrance into new territories worldwide.”
Stacy Larsen, president of Larsen & Bowman Holdings, added: “We are excited to have Jazwares and Zag Toys expand on the legacy of Russ Berrie and Applause while adding their unique perspective, product development expertise, and global reach to break new ground with these two beloved brands.”