After acquiring the assets of games company Marbles in May and signing a 10-year deal with Monster Jam last week, Spin Master has snapped up outdoor toy company Aerobie. The Toronto, Canada-based toy picked up the leading producer of outdoor flying disks and sports toys for an undisclosed sum in a transaction that closed on July 28.
The move is a part of the company’s continuing attempts to diversify its product offering and build on the outdoor business segment it began building with the acquisition of Swimways in 2016 for US$85 million in cash.
Aerobie was founded in 1984 by Alan Adler, an engineer and toy inventor, in Palo Alto, California. Adler focused on aerodynamics to create better flying toys, which led to the creation of the company’s mainstay flying ring format. Aerobie holds the Guinness World Record for the farthest thrown object and its products are distributed in more than 60 countries.
Spin Master plans to work on innovation for the Aerobie line through its global research and development network and grow sales internationally. It will be managed by Swimways and join the Coop family of branded active outdoor lifestyle products.
Since filing an IPO in 2015, Spin Master has acquired seven companies including Swedish app maker Toca Boca and New York’s Cardinal Games.