Mattel has completed its acquisition of HIT Entertainment, and has appointed David Allmark, executive vice president, Fisher-Price, to oversee the HIT portfolio of brands.
“Mattel is thrilled to welcome HIT Entertainment talent to our family under the direction of Fisher-Price executive vice president David Allmark,” says Bryan Stockton, chief executive officer, Mattel. “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.”
Former Disney Consumer Products executive Edward Catchpole has been named senior vice president, HIT Brands. Reporting to Allmark, Catchpole will head the U.K. office and orchestrate marketing strategy for global HIT brands.
Mattel purchased HIT for $680 million in cash, a deal first announced October 2011. The deal gives Mattel access to HIT’s worldwide portfolio of brands including Thomas & Friends, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina, but does not include HIT’s interest in the Sprout cable network.
"Catchpole comes to us with a wealth of experience and skills including leadership management and brand and intellectual property management," says Allmark. "This appointment clearly demonstrates Mattel’s commitment to own, develop and grow world-class brands. I am very excited about the prospects ahead for the collective Fisher-Price and HIT Entertainment brand portfolio.”