Toy State has purchased Nikko Entertainment BV—its first acquisition.
The deal includes Nikko's Japan and Hong Kong offices, as well as the company's European segment. Nikko is known for manufacturing remote-controlled cars, boats and flying toys. The toys also come with licensing partnerships with various franchises, such as Transformers, Hello Kitty, Fast & Furious and Angry Birds.
Terms of the deal were not disclosed.
Norwood, Massachusetts-based Toy State already owns several other toy brands, including Road Rippers, Hot Wheels and James Bond 007 cars and toy vehicles, as well as Cat and Cat Preschool construction toys.
The deal expands the buyer's global footprint into Japan, Hong Kong and Amsterdam. Toy State expects the deal to serve as a platform for continued expansion into Europe.
In another recent toy deal, Mattel Inc. (Nasdaq: MAT), in February, agreed to buy Mega Brands Inc., a maker of construction toys, games, puzzles and arts and crafts products, for $460 million. Before that, in September, Propel Equity Partners bought the Zoob toy line, which makes construction toys.