Spin Master to Acquire the Hexbug Brand and Portfolio

Brand of toys to move to Spin Master in company’s latest acquisition.

License Global, Content Editor

January 10, 2023

1 Min Read
Children with Hexbug toy.
Children with Hexbug toy.Spin Master

Spin Master, a global children’s entertainment company, has announced it has reached an agreement to acquire the Hexbug brand of toys from the toy company, Innovation First International. 

“Spin Master is the business that can really take our years of foundational tech toy innovation to the next level and gain an even greater awareness for the brand here at home and around the world,” says Tony Norman, chief executive officer, Innovation First International. 

First entering the market in 2007, Hexbug products feature robotic technology with movement inspired by nature. The line includes more than 100 toys ranging from buildable playsets to battling robots. 

“What excites us so much about Hexbug is that the inventors have mastered both the science and the art of bringing creatures to life through technology to deliver truly magical play experiences,” says Anton Rabie, co-founder, Spin Master. “With this acquisition, Spin Master will combine its innovation, global reach and diverse portfolio with Hexbug’s innovative excellence to surprise and inspire kids in new ways.” 

“At Spin Master we are focused on reimagining everyday play and are always looking for opportunities to strengthen our innovative portfolio through meaningful acquisitions,” says Max Rangel, global president and chief executive officer, Spin Master. “Hexbug is an evergreen brand with a strong foothold within a niche category, opening an opportunity for Spin Master to own and ultimately grow the popular robotic range’s reach through our expanded global footprint while also leveraging this technology across our broader toy offering.” 

Related:Spin Master to Acquire Canadian Puzzle Company, 4D Brands International

Expected to close in February, the acquisition of Hexbug marks Spin Master’s 28th acquisition since the company was founded in 1994 and the 18th since its initial public offering in 2015. 

About the Author

License Global

Content Editor, License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

Through its print edition, website, daily e-newsletter and event publications, License Global reaches more than 150,000 executives and professionals in all major markets. The magazine also serves as the official publication for the sector’s trade events, which include Licensing Expo, Brand Licensing Europe, France Licensing Day, Licensing for Retail, Licensing Expo Japan, Licensing Expo Shanghai and the Licensing Leadership Summit.

Subscribe for daily updates directly into your inbox.

 

 

 

Subscribe and receive the latest news from the industry Article
Join 62,000+ members. Yes, it's completely free.

You May Also Like