Breaking News: Jakks Acquires Moose Mountain

Jakks Pacific, Inc., announced this morning that it has entered into an agreement to acquire Hong Kong-based Moose Mountain Toymakers Limited. The company makes sports arcade products, foot-to-floor ride-ons, tents, safe soft play environments, arcade pinball games, and wagons.

Jakks Pacific will be acquiring all of the shares of stock of Moose Mountain, a 15-year-old, privately held company and its Parsippany, NJ-based affiliate, Moose Mountain Marketing, Inc. The business includes licenses for well-known characters and brands, and its children’s product lines are complementary to Jakks Pacific’s wide-ranging product portfolio.

“We believe these well-established and innovative product lines add to the breadth and depth of our extensive portfolio,” said Stephen Berman, president and CEO, Jakks Pacific, in a statement this morning. “Moose Mountain brings tremendous experience and talent in designing and manufacturing distinctive product lines and we look forward to expanding our offerings into new product categories.”

Moose Mountain’s president Ron Lokos, said in a statement that, “Jakks Pacific is the ideal long-term home for our business and the dedicated personnel who have built this business over the past 15 years. We believe that as part of Jakks, with their wide-ranging distribution and extensive manufacturing capabilities, this business will be well positioned to create exciting opportunities and synergies for meaningful future growth.”

The transaction is scheduled to close in the third quarter of 2011, subject to third-party approvals and other customary closing conditions.