Hasbro Acquires eOne for $4B
Toy company Hasbro continues to expand, as it recently managed to acquire the independent Canadian studio Entertainment One, for the princely sum of $4 Billion. This is significant news, because Entertainment One, or more popularly known as eOne, is home to preschool hits such as Peppa Pig and PJ Masks.
Hasbro, for their part, are no lightweights when it comes to owned properties. Think of any popular toyline with a hit Saturday morning series in the past couple of decades, and there is a good chance that they had a hand in it – Transformers, G.I. Joe, even My Little Pony – it’s all Hasbro.
Under the all-cash $4B deal, eOne shareholders will receive $6.86 for each common share.
“The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP,” said Hasbro CEO Brian Goldner. “In addition, Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally and realize full franchise economics across our blueprint strategy for shareholders. We are excited to welcome eOne’s talented employees from around the world into the Hasbro family.”
Allan Leighton, non-executive director and chairman of eOne’s Board of Directors, stated: “On behalf of the board of eOne, I am very pleased by this exciting development, which is a testament to eOne management’s vision, leadership and solid execution. This transaction creates significant, immediate value for our shareholders as it recognizes the strength of our future-facing business model.”