PlayMonster LLC, which is backed by Audax Private Equity, has acquired the assets of Ann Arbor, Michigan-based Kahootz Toys, a kids arts and crafts company. No financial terms were disclosed.
BELOIT, WI, Nov. 14, 2019 /PRNewswire/ — PlayMonster LLC has taken its next big step in solidifying its fast growth as a multi-category toy and game company by acquiring the assets of the kids arts and crafts company, Kahootz Toys, based in Ann Arbor, MI. Kahootz Toys is the company behind 17 award-winning brands including Y’ART®, SPIROGRAPH®, COLORFORMS®, FASHION PLATES®, LATCHKITS®, PLAY-DOH® and WATERFULS®.
Kahootz, founded in 2012, grew quickly with several programs, including the relaunch of the iconic brand Spirograph, under license with Hasbro. Today that brand stands as one of the strongest performers in the category. More recently, the company has experienced great success with other classic brands like Colorforms in partnership with 9 Story Entertainment, and the girls’ favorite Fashion Plates. This year the company was excited to be awarded the ASTRA Best Toys for Kids award, and is a TOTY finalist for Creative Toy of the Year with a new line, Y’ Art, where kids can “color with yarn”!
Over the past few years, PlayMonster has made several acquisitions to strengthen their position in the toy industry, and Kahootz Toys was a natural fit with its commitment to classic and quality play, an initiative PlayMonster strives for, to meet the needs of today’s consumers.
Bob Wann, Chief PlayMonster of PlayMonster LLC said, “This is PlayMonster’s largest acquisition to-date and we’re thrilled to continue our multi-category growth strategy building and adding classic brands while expanding our footprint in the activity and stationery aisles. Kahootz has shown a commitment to providing innovative products to kids of all ages, and this philosophy aligns with our mission to make a positive difference in people’s lives through the power of play. Their team has done an outstanding job, and with our help, will continue to grow the Kahootz brand at retail.”
“We are very excited to be joining PlayMonster and the Audax Private Equity family of companies,” said Joe Yassay, CEO and founding partner of Kahootz Toys. “The addition of our products to PlayMonster’s already impressive portfolio of children’s toys and games is a win-win for everyone involved–our companies, licensors, suppliers and customers. We look forward to helping PlayMonster champion the power of play by supporting continued growth and market penetration in the mass, specialty and international marketplaces.”
Bambini Partners, LLC acted as Special Advisors to Kahootz Toys in connection with this transaction.
About PlayMonster LLC
Beloit, WI-based PlayMonster is a toy and game company that believes in the power of play to make a positive difference in people’s lives. Delivering great play value by designing, manufacturing and marketing innovative, fun products such as “TOTY Game of the Year” Yeti in My Spaghetti® and “TOTY Doll of the Year” Wonder Crew®, along with other award-winning toys and games like The Game of THINGS…®, 5 Second Rule®, Relative Insanity®, Mirari®, Farkle, SET® games, OK to Wake!®, My Fairy Garden®, Automoblox®, Marbleocity®, Kid O® and Super Spinner® is how PlayMonster helps keep play alive for all ages.
About Kahootz Toys
Kahootz Toys has been on a mission to use our skills and passions to bring great kids’ products to the world, founding our company with an award-winning relaunch of the classic brand, Spirograph® in 2013. Since then, we’ve successfully launched a broad portfolio of children’s toy, craft and activity products, including Fashion Plates® fashion drawing sets, Colorforms® playsets, Latchkits®, Y-Art™ yarn crafts, and many others. Kahootz believes in “Retro Fun for Everyone”!