Toronto-based Spin Master to buy U.S. sport toy company Aerobie
Aerobie first sold its flying rings in the 1980s; today it offers a range of outdoor toys and has sales in 60 countries
TORONTO—Canadian toy company Spin Master Corp. is expanding its Outdoor division with the acquisition of a California-based sporting goods company that makes flying disks and other aerodynamic projectiles.
Spin Master said July 31 it has agreed to buy certain assets of Aerobie Inc. for an undisclosed price.
The U.S. company was founded in the 1980s by engineer and Stanford University lecturer Alan Adler, who created the flying ring, a product that innovated on the tradition flying disk—colloquially known as the Frisbee. The company has introduced a number of other designs since, including footballs and boomerangs and has sales in 60 countries.
Spin Master said the acquisition will help it diversify its product lineup and add to its Outdoor business.
“Acquisitions such as Aerobie are a key part of our overall growth strategy,” Ben Gadbois, the company’s Global President and COO, said in a statement. “We will further innovate the Aerobie line using our global research and development network, and leverage Spin Master’s global sales and marketing infrastructure to grow sales internationally.”
The Toronto-based company said Aerobie will be managed by its Swimways business segment, which it acquired last year for US$85 million.