American toyco PlayMonster has acquired the assets of kids arts and crafts company Kahootz Toys The Michigan-based manufacturer distributes 17 popular brands, including Spirograph, Y’art (pictured), Colorforms, Fashion Plates, Latchkits, Play-Doh and Waterfuls.
Kahootz’s brands have seen success recently with its yarn-based craft kit Y’art getting nominated for the Toy of The Year Awards creative toy of the year earlier this month. The toyco also worked with Canada’s 9 Story Media Group this year to revamp the Colorforms brand.
This is PlayMonster’s biggest acquisition to date, according to a statement from the company. The toymaker has been growing rapidly in the past two years and in November 2018 the company received an infusion of capital and resources from Boston-based investor Audax Private Equity. Also in 2018, it grew its global presence by securing its first international acquisition with the UK-based toymaker Interplay.
More recently, PlayMonster hired Richard Gill as its new VP of international, who came into the position in August with the goal of growing the company’s global business. Gill has previously seen success as an external sales consultant helping the company grow its 5 Second Rule brand in international markets.