Propel Equity Partners has agreed to acquire Juratoys, continuing the expansion of portfolio company Alex Brands.
Based in Orgelet, France, Juratoys is the parent company behind toy brands, Janodand Kaloo. The company will be folded into Alex Brands, which Propel acquired in 2013. Since then, the Greenwich, Connecticut-based private equity firm has scooped up other U.S. toy brands from Infinitoy Inc., as well as Summit Partners LLC and CitiBlocs.
The Juratoys acquisition marks Propel's first add-on acquisition for Alex Brands in Europe. The deal brings Janod's and Kaloo's style of games, toys, plush products and baby gifts under the same roof as Backyard Safari, Zillionz, Covert Force, Test Pilot and Stink Bugzzz. With offices in France, the U.K. the U.S., Hong Kong and China, Juratoys grows the Alex Brands global footprint oversease.
“With the purchase of Juratoys, Alex Brands expands its consumer reach in both domestic and international markets, while continuing its current growth trajectory,” says the target's CEO Neil Friedman. “We see numerous opportunities in the European market and this is a big step towards achieving our goal of building a substantial global presence.”