Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
03.05.18
Spin Master™ Corp., a leading global children’s entertainment company, has agreed to purchase the GUND plush toy line from Enesco LLC, a Balmoral Funds portfolio company, for approximately $79.1 million. The acquisition is Spin Master™’s 20th since its founding and the company’s ninth acquisition since its initial public offering in 2015. The transaction is expected to close on April 1, 2018.
Spin Master™ creates, designs, manufactures, licenses and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Since 2000, the company has received 92 TIA Toy of The Year nominations with 28 wins across a variety of product categories—including more Innovative Toy of the Year awards than any of its competitors.
Pillsbury, together with Torkin Manes LLP, served as counsel to Spin Master™ on the transaction. The Pillsbury team was led by New York Corporate partner Jonathan Russo and included corporate counsel Bianca Bowen and associate Christopher Wing, along with partner Peter Hunt and counsel Jessica Lutrin advising on executive compensation and benefits matters; counsel Katherine Barger and associate Christopher Fennell advising on real estate matters; partner Michael Sibarium and attorney Evan Storm advising on regulatory issues; partner Nora Burke advising on tax matters; and partner Alex Lathrop advising on insurance matters. Glenn Eddie and Adrian Myers of Torkin Manes LLP served as co-counsel on the transaction.
Read Spin Master’s press release for more information about this transaction.