News

Mattel completes $680m Hit Entertainment acquisition

Barbie manufacturer Mattel has bought children’s media group Hit Entertainment, which owns Thomas the Tank Engine, for $680m from Apax Partners.
 
The acquisition culminates an auction that began in March and will grow Mattel’s footprint in emerging markets, although it does not include the group’s stake in US channel Sprout.

Mattel is the world's biggest toy company by sales and will finance the deal through a combination of  cash and debt. The deal expects to enlarge Mattel's footprint in Latin America and Asia
 
Thomas the Tank Engine is responsible for almost 80% of Hit Entertainments profits, becoming the top-selling pre-school toy for boys in China. Other programmes include Bob the Builder, Fireman Sam and Pingu.

 

Dean Kelly, London