Acquisition expands Spin Master’s brand portfolio with new plush toy business.
Spin Master has strengthened its brand portfolio with the acquisition of plush toy manufacturer GUND from Enesco.
GUND is the oldest soft toy brand in the US, having been established in 1898.
The acquisition gives Spin Master a platform from which to expand into the infant toy and specialty gift categories.
Spin Master’s global president and coo, Ben Gadbois, feels the new acquisition closely aligns with Spin Master’s key growth strategies.
“GUND further diversifies our product line and opens up significant opportunities for broader distribution,” he commented. “We will also be able to drive international growth leveraging our well-established global infrastructure.
“GUND introduces Spin Master into the gift business as plush offers a tried-and-true play value for kids to enjoy with their parents during everyday moments.”
Meanwhile, Enesco ceo Todd Mavis is pleased that the GUND brand will be in good hands, with the resources to maximise its global consumer appeal.
“We’ve really enjoyed working with the entire GUND team and wish them continued success in their new partnership with Spin Master,” said Todd.
The acquisition of GUND – which has a purchase consideration of $79.1 million – is expected to close on April 1, 2018.