This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Http://www.megabrands.com

Mattel, Inc. (NASDAQ: MAT) announced today that it has completed the acquisition of MEGA Brands Inc. (TSX: MB, MB.WT, MB.NT), through a wholly-owned subsidiary of Mattel, Inc., for approximately US$460 million. MEGA Brands, a trusted family of leading global brands founded and based in Montreal, is the No. 2 player in the $4-billion construction building sets category 1 with its MEGA BLOKS ® brand as well as a competitor in the $2-billion arts & crafts category 2.

This acquisition represents one of the key avenues for achieving Mattel’s global growth strategy by entering strategic categories that can benefit from the brands, distribution reach and marketing strength of the world’s largest toy maker.

“We are pleased to welcome MEGA Brands into the Mattel family of companies and believe the opportunities for global expansion and product innovation created by this acquisition will be one of the key drivers of our global growth strategy in 2014 and beyond,” said Bryan G. Stockton, Mattel Chairman and Chief Executive Officer. “MEGA Brands provides Mattel meaningful and immediate exposure into two of the fastest growing categories in the toy aisle today and we plan to utilize our world-class portfolio of brands, markets and customers to build an even stronger and more profitable player in the construction as well as arts and crafts categories.”

Mattel’s portfolio of brands will complement MEGA Brands flagship MEGA BLOKS ® construction sets and existing licensed brands, and creates the opportunity to grow the MEGA Brands sizable arts & crafts business, with brands including Rose Art ® and Board Dudes ®.

Geoff Massingberd, who Mattel named Chairman and President of MEGA Brands, assumes full leadership responsibility for MEGA Brands today. A native of Canada, Geoff began his career with Mattel in 1997 as the Vice President of Sales for Canada, and transitioned to leading Mattel’s International divisions in Canada, Australia, New Zealand, Asia and Latin America, and eventually the entire International division in his most recent role as Executive Vice President, International for Mattel.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs