The purchase will mark the toy company’s eighth acquisition since 2015.
NORTH AMERICA–In an effort to further bolster its games offering, Spin Master has acquired the innovative toy company Perplexus for $9 million.
Under the terms of the agreement, Spin Master will own the global rights to the Perplexus brand, which it has distributed since 2013. The agreement, which closed on Nov. 30, also includes annual performance-based payouts over the next five years.
Founded in 2001, Perplexus is known for its sculptural designs and appeal across various age groups.
"We continue to see growth within our Games and Puzzles business segment, and this strategic acquisition further emphasizes our position as a leader," says Ben Gadbois, global president and chief operating officer, Spin Master. "Perplexus is already inherently innovative, and it will further benefit from our world-class team of experts as we continue to emphasize disruptive ways to enhance our games portfolio."
The purchase of Perplexus marks Spin Master’s eighth acquisition since its Initial Public Offering in July 2015. Recent acquisitions include Cardinal Games, EG-Games, Marbles, Aerobie and Swimways, among others.
"We recognize that games and puzzles are a specialty area distinct from toys, and that's why having a dedicated team is vital to our continued growth," says Anton Rabie, co-chief executive officer and co-founder, Spin Master. "Spin Master is renowned for our inventor partnerships. We are focused on growing our games inventor community with innovative ideas from around the world that help drive growth for this important evergreen category."