Jazwares, a subsidiary of Alleghany Capital Corp., has acquired Kelly Toys Holidings and Kelly Amusement Holdings, according to Toybook.

The news follows an announcement that Jazwares acquired the global rights to Squishville from Kellytoy.

“We are thrilled to be joining Jazwares and the Alleghany Capital family of companies,” says Jonathan Kelly, co-president, Kellytoy. “I have known and respected the management team at Jazwares for a long time and believe that after years of building the company, Kellytoy’s logical next stage of growth is through a partnership with a larger, yet very nimble, global platform such as Jazwares. We are confident that our combined talents and the synergies that will result from this transaction will benefit both companies.”

Kelly will serve as co-president of Kellytoy along with Laura Zebersky, co-president of Kellytoy and chief commercial officer of Jazwares.

This is the second acquisition Jazwares has secured within the last year. It purchased Wicked Cool Toys last October.