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April 6, 2018
NORTH AMERICA–Spin Master has entered into an agreement to purchase the soft toy brand Gund from Enesco for $79.1 million. The acquisition is expected to close April 1.
Through the acquisition of Gund, Spin Master will look to further expand into the infant toy and specialty gift categories, which have seen significant growth in recent years. According The NPD Group, the plush toy category grew 6 percent worldwide in 2017.
"Gund further diversifies our product line and opens up significant opportunities for broader distribution. We will also be able to drive international growth leveraging our well-established global infrastructure,” says Ben Gadbois, global president and chief operating officer, Spin Master. "Gund introduces Spin Master into the gift business as plush offers a tried and true play value for kids to enjoy with their parents during everyday moments."
The purchase of Gund marks Spin Master’s ninth acquisition since its Initial Public Offering in July 2015. Recent acquisitions include Perplexus, Cardinal Games, EG-Games, Marbles, Aerobie and Swimways, among others.
"Gund's iconic portfolio of toys has won the hearts and hugs of children around the world for more than a century," says Anton Rabie, co-chief executive officer and co-founder, Spin Master. "We are thrilled to welcome Gund former owner and industry veteran, Bruce Raiffe, into the Spin Master family as our values closely align. We are focused on preserving Gund's excellent reputation rooted in quality product and cherished memories that last a lifetime."
Read more about:Gund
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