Hasbro closed out 2019 with a bang, completing its £2.9bn acquisition of Entertainment One.
The US toy giant confirmed the deal had finalised in a statement on 30 December.
Peppa Pig, PJ Masks and hundreds of other IP now join the likes of My Little Pony and Transformers under the Hasbro umbrella.
So too do senior eOne staff. Darren Throop, president and CEO of eOne, joins Hasbro and will report to the toy company’s chairman and CEO Brian Goldner. In addition, eOne’s Olivier Dumont, president, Family and Brands; Steve Bertram, president, Film and Television; and Chris Taylor, global president, Music, will also be joining Hasbro, reporting to Darren.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” Brian Goldner says.
“Our businesses are highly complementary with substantial synergies and a great cultural fit.
“The addition of eOne accelerates our blueprint strategy by expanding our brand portfolio with eOne’s beloved global pre-school brands, adding proven TV and film expertise, and creating additional opportunities for long-term profitable growth. We are pleased to welcome the incredibly talented eOne team to our company.”
The all-cash transaction closed at a slightly cheaper price than the initial US$3.9 billion projection, costing $3.8 billion under the converted rate of 1.31 USD/GBP on 30 December 2019.