KUALA LUMPUR, Oct 9 (Bernama) -- MGA Entertainment Inc (MGA), one of the world’s largest and fastest growing privately held toy and entertainment companies, has announced its intention to merge with Zapf Creation AG, Europe’s leading manufacturer of nurturing dolls.
Specifically, MGA’s wholly-owned German subsidiary, which is the current direct major shareholder of Zapf Creation AG, has approached Zapf with an invitation to enter into negotiations of a merger agreement.
MGA and Zapf Creation AG have had a collaborative business relationship for the sales and distribution of both companies’ brands for nearly 20 years.
In a statement, MGA said the merger is expected to close in Spring 2024.
No further details were shared at this time; however, the leadership of the companies will work closely to plan the merger and will make appropriate announcements as information becomes available.
Headquartered in Los Angeles, the United States with offices globally, MGA creates innovative, proprietary, and licensed consumer products and entertainment properties, including toys, games, dolls, apparel, consumer electronics, home décor, stationery, sporting goods, movies, and television series.
Meanwhile, Zapf Creation AG, a global brand supplier of children’s toys, develops and sells premium play concepts, as well as play and functional dolls with extensive accessories that are famous all over the world.
-- BERNAMA
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