24 LEXPERT MAGAZINE
|
JANUARY/FEBRUARY 2017
BIG DEALS
MKB was represented by Davies Ward
Phillips & Vineberg LLP, with a team that
included Brian Kujavsky, Marie-Emmanu-
elle Vaillancourt (tax) and Christine Lenis.
Consumer Goods Consumer Goods
SPIN MASTER
ACQUIRES SWIMWAYS
CLOSING DATE: AUGUST 2, 2016
On August 2, 2016, Spin Master Corp.
(TSX: TOY) announced the acquisition of
Swimways Corp., a leader in the water and
outdoor sports category, as well as the forma-
tion of an Outdoor business segment. e
acquisition establishes Spin Master as a key
player in the Outdoor and Sports Toys cat-
egory — currently one of the largest and fast-
est growing categories in the United States
toy industry.
e announced purchase price for the
transaction is US$85 million in cash on clos-
ing, less an escrow for possible adjustments,
plus up to US$8.5 million payable over four
years based on Swimways' sales growth. e
transaction was financed through Spin Mas-
ter's existing credit facility. Swimways will
operate as a stand-alone subsidiary within
the Spin Master group.
e announcement marks Spin Master's
fih acquisition since its IPO in July 2015.
Earlier acquisitions include Etch a Sketch
and Doodle Sketch from e Ohio Art
Company, and global mobile digital app
companies Toca Boca and Sago Mini from
Bonnier Group.
Spin Master is a leading global children's
entertainment company that creates, designs,
manufactures and markets a diversified port-
folio of innovative toys, games, products and
entertainment properties.
Spin Master is best known for award-win-
ning brands including Zoomer™ Dino, Ba-
kugan Battle Brawlers™, Air Hogs®, and 2015
Toys of e Year, Bunchems and Meccanoid
G15. Since 2005, Spin Master has received
63 TIA Toy of e Year (TOTY) nomina-
tions with 16 wins across a variety of product
categories. Spin Master has been recognized
with 12 TOTY nominations for Innovative
Toy of the Year, more than any of its competi-
tors. Spin Master is among a limited number
of companies that not only develop and pro-
duce global entertainment properties, char-
acters and content, but also monetize that
content through the creation, sale and licens-
ing of products.
To date, Spin Master has produced six tele-
vision series, including 2007 hit series Baku-
gan Battle Brawlers and its current hit PAW
Patrol, which is broadcast in over 160 coun-
tries and territories globally. Spin Master em-
ploys over 1,000 people globally with offices
in Canada, United States, Mexico, France,
Italy, United Kingdom, Slovakia, Czech Re-
public, Germany, Sweden, the Netherlands,
China, Hong Kong, Japan, and Australia.
Swimways is a family-owned business,
headquartered in Virginia Beach, VA, with
an office in Guangzhou, China, a manufac-
turing and distribution facility in Tarboro,
NC, and a team of 149 employees. e com-
pany boasts a diverse portfolio of toys, games
and sporting goods for the pool, beach and
backyard sold under the brands Swimways,
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