(Filed Under Fashion News). Jakks Pacific Inc, a designing and marketing children's toy company with headquarters in Malibu California, signed an agreement of an undisclosed amount on November 24, 2008 to acquire the assets of costume apparel manufacturing company, Disguise, a subsidiary of France-based company, Cesar S.A. Although all of the terms of the agreement have not been disclosed, Jakks has acquired 100 percent ownership of Disguise.
The acquisition is subject to closing conditions such as approval by Cesar's secured creditors. Jakks expects that it will be completed in December 2008. Geena Rosenberg, Jakks' SVP of communications and investor relations, said that there are no immediate plans to make staffing changes in Disguise, whose headquarters will remain in San Diego, California.
Rosenberg commented that the acquisition would expand Jakks reach in the Halloween and costume market.
"There are a lot of synergies with categories in the Halloween and dress-up business, particularly with Jakks role-play and dress-up lines. With the licenses from disguise we especially hope to expand Jakks role-play category," She said.
Stephen Berman, President and COO of Jakks said:
"Our entry into the Halloween industry is the next step in our acquisition strategy as we further diversify our portfolio while simultaneously positioning Jakks as the approximately $2 billion seasonal Halloween costume business."
Established in 1987, Disguise is a costume manufacturing company who brings over ten million costumes to the American market every year. They joined playwear and costume company, the Cesar Group, in 1997.
Jakks Pacific Inc. is a toy and consumer product manufacturing company whose products include action figures, art activity kits, dress-up, and role-play.
For more information contact Geena Rosenberg: (310) 455-6235. Email: Gennar@jakks.net
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