Spin Master to buy GUND from Balmoral affiliate for $102 mln
Spin Master Corp (TSX: TOY) has agreed to acquire plush toy maker GUND from Enesco LLC, an Itasca, Illinois-based giftware, home and garden décor business. Spin Master, a Toronto-based children's entertainment company, agreed to pay about $102 million (US$79.1 million) for GUND in a deal expected to close on April 1. Ben Gadbois, Spin Master's global president and COO, said the acquisition will help diversify the company's product line and open up opportunities for broader distribution. Enesco is a portfolio investment of U.S. private equity firm Balmoral Funds. Balmoral acquired the company in 2015.
5 March 2018•4 mins read
