Malibu Toy Company Acquires Hong Kong Business

Malibu-based toy designer and marketer JAKKS Pacific Inc. announced Monday it has completed the acquisition of Hong Kong-based Moose Mountain Toymakers Ltd., which it described as a leader in the sale and manufacture of ride-on toys, wagons, tents, arcade pinball games and sports arcade products.

JAKKS said in a statement that it had acquired all the shares of Moose Mountain, a 15-year-old privately held company, and its Parsippany, N.J.-based affiliate, Moose Mountain Marketing, Inc. The newly acquired business includes licenses for well-known characters and brands, including Disney, Fisher-Price, Sesame Street, Thomas & Friends, Kawasaki, Nickelodeon and Hasbro, and its children's product lines are complementary to JAKKS Pacific's wide-ranging product portfolio, the statement said.

The value of the transaction was not disclosed.

"We believe that Moose Mountain and its roster of evergreen licenses and broad array of product lines, coupled with its stellar management team, will be a strong addition to JAKKS' portfolio of brands across multiple product categories," said JAKKS Pacific President and CEO Stephen Berman.

Added Moose Mountain President Ron Lokos, "We could not be more thrilled to join the JAKKS family of brands. We believe that the Moose Mountain business will be a great addition to JAKKS' overall product line and contribute to the company's long-term growth."

—City News Service