MALIBU, Calif. (AP) — Jakks Pacific Inc. said Thursday that it will expand its stable of toys with the acquisition of Maui Inc. for an undisclosed amount.
Maui, a privately held company based in Ohio, makes outdoor activity and sports toys, such as Wave Hoop and Sky Ball, under its Maui Toys brand.
Jakks Pacific said it acquired all the shares of Maui, as well as its Hong Kong-based affiliate A.S. Design Limited. The company said the deal should add to its earnings in 2013. The impact on its earnings this year is subject to the completion of the purchase price allocation for the year, which hasn’t been completed.
Jakks Pacific, which sells Hello Kitty, Pokemon and Cabbage Patch Kids, said earlier this month that its efforts to fight off a takeover attempt by investment firm Oaktree Capital took a toll on its second-quarter results. The company said it spent $1.7 million, before taxes, to fend off Oaktree’s offer.
Oaktree, which owns about 5 percent of Jakks’ stock, offered $20 per share last fall in a bid to take the company private. Jakks rejected that offer and talks with Oaktree stalled in June.
Shares of Jakks Pacific rose 8 cents to $15.79 in afternoon trading. Its shares have traded in a 52-week range of $13.29 to $20.37.
