Jakks Pacific will acquire Hong Kong-based Moose Mountain Toymakers, manufacturer of sports arcade products, foot to floor ride-ons, tents, safe soft play environments, arcade pinball games and wagons. The transaction is scheduled to close in the third quarter of this year.
Jakks Pacific will acquire all shares of stock of the 15-year-old, privately held company. The Moose Mountain business includes licenses for well-known characters and brands.
"We believe these well-established and innovative product lines add to the breadth and depth of our extensive portfolio," says Stephen Berman, president and chief executive officer, Jakks Pacific. "Moose Mountain brings tremendous experience and talent in designing and manufacturing distinctive product lines and we look forward to expanding our offerings into new product categories."
"Jakks Pacific is the ideal long-term home for our business and the dedicated personnel who have built this business over the past 15 years," says Ron Lokos, president of Moose Mountain. "We believe that as part of Jakks, with their wide-ranging distribution and extensive manufacturing capabilities, this business will be well positioned to create exciting opportunities and synergies for meaningful future growth."