Mattel finalises Hit deal
Toy giant Mattel has completed its US$680m acquisition of UK-based children’s media group Hit Entertainment from venture capital firm Apax Partners.
Hit’s kids’ franchises, which include money-spinner Thomas & Friends and new TV series Mike the Knight, will now sit alongside Mattel toy brands like Barbie and Fisher Price. The deal was announced in October.
This week saw the departures of CEO Jeffrey Dunn and chief operating officer Sangeeta Desai, a corporate finance specialist, who had both been drafted in by Apax to find a buyer.
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