Mattel Pays $680M for PE-backed HIT Entertainment

Mattel is paying $680 million in cash to buy HIT Entertainment from a consortium led by Apax Partners. HIT Entertainment owns preschool toy brands including Thomas & Friends and Barney. The purchase price equates to a multiple of about 9.5 times trailing earnings before interest, tax, depreciation and amortization, the company’s said in a release.

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