NEWS

Mattel completes acquisition of HIT

Published on: 2nd February 2012

Mattel has completed its acquisition of HIT Entertainment from a consortium of funds led bt Apax partners for $680 million in cash.

Home to one of the largest independent owners of pre-school properties, HIT entertainment’s licences include:  Thomas & Friends, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina. HIT’s licenses will be combined with Mattel’s brand portfolio which includes Barbie, Hot Wheels, Fisher-Price and American Girl.

Mattel CEO, Bryan Stockton, said: “Mattel is thrilled to welcome the HIT Entertainment talent to our family under the direction of Fisher-Price Executive Vice President, David Allmark. This acquisition supports our strategy to own, develop and grow world-class brands, further igniting the momentum behind our innovative toys and consumer products in the marketplace.”

David Allmark commented: “This is indeed a momentous day for Mattel, especially Fisher-Price. I am very excited about the prospects ahead for the collective Fisher-Price and HIT Entertainment brand portfolio. Each business has complementary capabilities – the combination of which presents a dynamic future.”

 

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