Giochi Preziosi Reportedly Readies IPO

Italian toy supplier Giochi Preziosi is reportedly planning to sell a portion of the company in an initial public offering this year. The company is the owner of boys' brand Gormiti.

Bloomberg reports Giochi Preziosi may be in talks with a number of banks and the company could be valued at approximately €1 billion ($1.4 billion). No other official details have been released.

Giochi Preziosi is owned by the founding Preziosi family and private-equity firm Clessidra SGR SpA. The company created the Gormiti action figure line, which has since expanded into a TV series, "Gormiti: The Lords of Nature Return!," which premiered last fall in the U.S. and most European territories. It is co-produced by Marathon Media and Giochi Preziosi. The brand has led to an extensive licensing program, including video games (Konami), publishing (Egmont) and outdoor toys (Mondo SpA).

Licensing and merchandising for the Gormiti brand is managed by Marathon Media in France and by Giochi Preziosi for all other territories through a network of agents. Zodiak Entertainment handles all international TV and home entertainment rights for the series.