Playthings reports that Mattel has acquired HIT Entertainment. The preschool focused toy company is best known for Thomas and Friends.
Major toy vendor Mattel Inc. entered into an agreement to acquire HIT Entertainment for $680 million in cash from a consortium led by private equity firm Apax Partners funds. HIT Entertainment owns preschool brands Thomas & Friends, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina. The transaction is expected to be financed with a combination of cash and debt and is expected to close in the first quarter of 2012. The acquisition does not include HIT Entertainment’s interest in the Sprout cable network station.
Check out the original article Here.