Canadian company acquires Wilton toymaker Melissa & Doug

Melissa & Doug, a Wilton-based manufacturer of brand for wooden and sustainable toys for preschoolers, has been acquired by the Toronto-based children’s entertainment company Spin Master Corp. (TSX: TOY) for $950 million in cash.

According to Spin Master, the Melissa & Doug acquisition will add early childhood products to its offerings while diversifying its portfolio across new channels and formats. Earlier this month, Melissa & Doug, opened its first retail store at The Westchester in White Plains.

“What excites us so much about Melissa & Doug is the power of their brand, their deep knowledge in developmental play and their passion for creativity, imagination and sustainability,” said Max Rangel, Spin Master’s global president and CEO. “As a trusted brand of early childhood toys with an evergreen portfolio, Melissa & Doug will expand Spin Master’s presence in new categories, providing immediate revenue growth, broader reach in all retail channels and market coverage. The addition of Melissa & Doug is highly complementary and connects with our strategic vision to reimagine everyday play, providing a compelling platform for long-term growth through innovation, while also meeting the changing demands of children and parents of the future.”

“Throughout our 35-year history, Melissa & Doug has helped ignite children’s imaginations by fostering open-ended, sustainable play,” said Melissa & Doug President and CEO Fernando Mercé. We are confident that by working together with Spin Master, we will be able to reach more families, inspire more imaginations and unlock greater growth potential.”

Melissa & Doug, a Wilton-based manufacturer of brand for wooden and sustainable toys for preschoolers, announced that it will open its first retail store on Oct. 6 at The Westchester in White Plains.