As PlayMonster’s largest acquisition to date, the company will see a healthy expansion across its multi-category portfolios.
PlayMonster has taken its next big step in solidifying its fast growth as a multi-category toy and game company by acquiring the assets of the kids arts and crafts company, Kahootz Toys. Kahootz Toys is the company behind brands including Y’art, Spirograph, Colorforms, Fashion Plates, Latchkits, and Waterfuls.
Founded back in 2012, Kahootz Toys grew quickly with several programmes, including the relaunch of the iconic brand Spirograph, under licence from Hasbro. Today that brand stands as one of the strongest performers in the category. More recently, the company has experienced great success with other classic brands like Colorforms in partnership with 9 Story Entertainment, and Fashion Plates.
Over the past few years, PlayMonster has made several acquisitions to strengthen its position in the toy industry, and Kahootz Toys was a natural fit with its commitment to classic and quality play, an initiative PlayMonster values and strives for.
Bob Wann, chief PlayMonster of PlayMonster LLC said: “This is PlayMonster’s largest acquisition to-date and we’re thrilled to continue our multi-category growth strategy building and adding classic brands while expanding our footprint in the activity and stationery aisles. Kahootz has shown a commitment to providing innovative products to kids of all ages, and this philosophy aligns with our mission to make a positive difference in people’s lives through the power of play. Its team has done an outstanding job, and with our help, will continue to grow the Kahootz brand at retail.”
“We are very excited to be joining PlayMonster and the Audax Private Equity family of companies,” added Joe Yassay, CEO and founding partner of Kahootz Toys. “The addition of our products to PlayMonster’s already impressive portfolio of children’s toys and games is a win-win for everyone involved–our companies, licensors, suppliers and customers. We look forward to helping PlayMonster champion the power of play by supporting continued growth and market penetration in the mass, specialty and international marketplaces.”