Jakks Buys Hong Kong Toy Company

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Malibu toymaker Jakks Pacific Inc. on Monday said that it reached an agreement to acquire Moose Mountain Toymakers Ltd., a Hong Kong maker of licensed arcade-style games, children’s vehicles and other toys.

The deal, terms of which were not disclosed, includes privately held Moose Mountain and its U.S. affiliate, Moose Mountain Marketing Inc. of Parsippany, NJ. The company is licensed to make toys for Walt Disney Co.’s Fischer-Price brand, ESPN, Disney Princesses and other animated characters. It also makes toys based on Nickelodeon and Hasbro characters.

“We believe these well-established and innovative product lines add to the breadth and depth of our extensive portfolio,” said Chief Executive Stephen Berman in a statement. “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.”

The transaction is scheduled to close in the third quarter.

Shares were down 52 cents, or 3.3 percent, to $15.17 in midday trading on the Nasdaq.

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