Purchase will mark the company’s seventh acquisition since 2015.
The transaction, which closed on July 28, will continue to diversify Spin Master’s product offering as well as its focus on outdoor toys.
Through the agreement, Aerobie will be managed by Swimways,
, and will join the Coop family of branded active, outdoor lifestyle products.
“Acquisitions such as Aerobie are a key part of our overall growth strategy,” says Ben Gadbois, global president and chief operating officer, Spin Master. “We will further innovate the Aerobie line using our global research and development network, and leverage Spin Master’s global sales and marketing infrastructure to grow sales internationally.”
Aerobie was founded by Alan Adler, an engineer and part-time Stanford University professor who spent his spare time inventing toys. In 1984, Adler launched his own company to ensure
"Aerobie is a classic award winning brand, built around high-performance product for your everyday outdoor enthusiast," says Anton Rabie, co-chief executive officer and co-founder, Spin Master. "We're proud to include the Aerobie brand within the Spin Master portfolio, and we are focused on preserving the brand's reputation for top quality products that provide hours of outdoor fun for the entire family. The Aerobie acquisition also emphasizes our willingness to invest in smaller companies to create value."
Since Spin Master’s initial public offering in 2-15, the company has acquired seven companies, including Aerobie, in an ongoing effort to grow the company through strategic acquisitions.
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