Anton Rabie, co-chief executive officer and co-founder of Spin Master, said the company is looking to attract younger children to Meccano, partly by tripling its marketing budget next year, and teaming up with popular licensing partners. It also plans to transition to the Meccano name in the United States, where awareness of the Erector brand is only about 55-60%. Brand awareness for Meccano in Canada is about 70%, whereas in countries such as Britain and France, it’s closer to 90%.
“Meccano is an iconic global brand that has a heritage like no other,” said Anton. “Spin Master will stay true to Meccano’s heritage of attracting serious building-set players.”
The Meccano purchase is part of a broader bid by the company to revive its fortunes by making about $100m of acquisitions annually over the next couple of years, diversifying into new but related categories.
News of the acquisition was reported by Globe and Mail.
If you would like to receive our daily newsflash email, please enter your email address in the “sign-up” box at the top of the page; you can also follow us on Twitter and Facebook and request a print subscription here.