Alex Brands, a portfolio company of Propel Equity Partners, has acquired Buzz Bee Toys. This transaction is the eighth add-on acquisition for Alex Brands since the platform was launched by Propel in August 2012 with the buy of Poof-Slinky.
“This acquisition is yet another step in our strategy of building Alex Brands into a home of best-in-class brands in the toy industry and an indication of our strong belief in the health and vitality of this sector,” says Michael Cornell, Chairman and CEO of Propel Equity Partners.
First introduced in 2002, the Buzz Bee Toys’ portfolio of brands includes Air Warriors, Water Warriors and Ruff Stuff and provides an active play experience with a line of products ranging from dart blasters and water blasters to water toys, flying toys, role play, and junior sports offerings. Buzz Bee Toys was founded in 2002 and is headquartered east of Philadelphia in Mt. Laurel, NJ (www.buzzbeetoys.com).
Alex Brands is a family of brands owned by Propel Equity Partners that includes some of the most iconic brand names in the toy industry. Owned brands include Alex Toys, Poof, Slinky, Scientific Explorer, Ideal, Zoob, Backyard Safari, Zillionz, CitiBlocs, and Shrinky Dinks. The company also has an agreement with Nickelodeon to manufacture, distribute and market products based on a variety of popular characters, including SpongeBob SquarePants, Dora and Friends, and Teenage Mutant Ninja Turtles. Alex Brands is based north of Newark in Northvale, NJ (www.alexbrands.com).
“The addition of Buzz Bee Toys builds on the momentum that Alex Brands has been generating, most recently through our licensing partnership with Nickelodeon in February 2015 and the merging of Shrinky Dinks, which we acquired in December 2014, into our family of brands,” said Neil Friedman, President and CEO of Alex Brands.
2015 PEPD • Private Equity’s Leading News Magazine • 5-15-15
