Leading global children’s entertainment company Spin Master has now completed its previously announced acquisition of Melissa & Doug.

Spin Master has confirmed that it has completed its previously announced acquisition of US-based Melissa & Doug, a well-recognised and trusted brand in early childhood play, for $950m.

With a mission to ignite imagination and a sense of wonder in children, Melissa & Doug is a beloved brand that is sought after and trusted by parents and children alike and highly relevant for families seeking sustainable wooden toys and screen-free play.

“This acquisition brings together two formidable leaders in the toy industry, both driven by a passion to create magical play experiences for children and inspire imaginations on a global scale,” said Max Rangel, Spin Master’s Global president and CEO.

“By adding Melissa & Doug’s complementary product line to our existing toy portfolio we expand our capabilities in early childhood play and further bolster Spin Master’s leadership in the children’s entertainment industry. Our combined expertise, and the addition of Melissa & Doug’s high-quality, open-ended, creative and developmental toys, positions both Spin Master and Melissa & Doug to unlock further growth across new and existing channels and in markets globally.”

The transaction expands Spin Master’s reach in especially retail and e-commerce channels, and provides a recurring, evergreen product portfolio with a diverse revenue base and significant long-term growth opportunities. As part of the closing of the transaction, the parties have agreed to eliminate the additional contingent earnout consideration of up to $150m, previously announced on October 11th.