Balmoral Funds has confirmed the sale of GUND to Spin Master (TSX:TOY), a leading global children’s entertainment company, for $57m. GUND was a division of Balmoral’s portfolio company Enesco LLC, and is the oldest soft toy brand in the United States.
Following the announcement in March, the deal completed in recent days, with Enesco LLC’s ceo Todd Mavis confirming that following the sale of the GUND division, the company is looking forward to re-doubling its efforts on Enesco’s core gift business.
“We’ve really enjoyed working with the entire GUND team and wish them continued success in their new partnership with Spin Master,” comments Todd.
Established in 1898, GUND is well known as one of the leading plush toy manufacturers in the world, recognised by the American Brand Council as one of the most trusted toy brands in the USA, and is best known for its ‘Gotta Getta GUND’ campaign.
Based in Toronto, Spin Master is a leading global children’s entertainment company that creates, designs, manufactures, licenses and markets a diversified portfolio of innovative toys, games, products and entertainment properties.
