On Jan. 4, Spin Master Corp. (TSX: TOY), a global children’s entertainment company, completed its acquisition of Rubik's Brand Ltd., the owner of the world-famous Rubik's Cube®. Spin Master will continue the legacy of the Rubik's Cube® brand, with plans for further innovation across the entire Rubik’s portfolio and expanded distribution through Spin Master’s global footprint.
Spin Master has expanded its position within the games category through acquisitions of new titles and innovative partnerships and collaborations. The acquisition of the Rubik's Cube® brand marks the 22nd acquisition since Spin Master was founded in 1994 and the 12th acquisition since its IPO in 2015.
Spin Master is a global children’s entertainment company creating play experiences through a diverse portfolio of innovative toys, entertainment franchises and digital and games. Spin Master is best known for the award-winning brands PAW Patrol®, Bakugan®, Kinetic Sand®, Air Hogs®, Hatchimals® and GUND®. Spin Master Entertainment creates and produces multiplatform content, stories and characters through its in-house studio and partnerships with outside creators, including PAW Patrol and 10 other television series, which are distributed in more than 160 countries. Spin Master has an established digital presence anchored by the Toca Boca® and Sago Mini® brands, which combined have more than 25 million monthly active users. With over 1,800 employees in 28 offices globally, Spin Master distributes products in more than 100 countries.
The original Rubik’s Cube® is a 3D puzzle in the shape of a cube, with each of the six faces made up of smaller coloured cubes that rotate around a central core. The 3D puzzle attracts many “speedcubers” across the world who compete to solve the puzzle as quickly as possible. Hungarian puzzle enthusiast Ernő Rubik invented the toy in 1974. The Rubik's Cube® became a commercial success after it launched globally in 1980.
Christopher Harrs, executive vice president, general counsel and corporate secretary, represented Spin Master in-house.
Torkin Manes LLP acted as lead outside counsel that provided external representation to Spin Master with a team led by Jeffrey Cohen, Glen Eddie, and which included Adrian Myers, Taryn Meyer, Cameron McMaster.
Read the complete details in Lexpert Magazine.