Basic Fun!™ Acquires Assets of Playhut®
BOCA RATON, Fla.--(BUSINESS WIRE)--Oct 1, 2018--Basic Fun!, the Florida-based toy and novelties company, announced today the purchase of all assets of Playhut, Inc., the California toy company that produces the popular and award-winning EZ Twist™ line of indoor and outdoor play structures. Founded in 1982, Playhut has introduced many innovative products that aim to enhance imaginative and educational play. The company’s renowned EZ Twist design system revolutionized indoor and outdoor play by allowing for instant setup and convenient foldaway storage of lightweight popup environments including playhouses, tents, tunnels and games.
“We believe that Playhut is the brand of choice for indoor and outdoor play structures,” said Jay Foreman, CEO of Basic Fun! “The company is well known for innovation and quality by consumers, retailers and licensors. They ran into serious troubles navigating the challenging retail environment between the bankruptcy of Toys”R”Us and the fight at retail between brand and price. It’s our mission to reinvigorate Playhut and return the brand to its position as the leader in this very important micro category within the kids’ products space.”
Basic Fun! has made the acquisition and rehabilitation of classic and iconic toy brands, including its name sake Basic Fun, Uncle Milton, K’NEX and now Playhut, part of its business model. The company is in the midst of a robust growth strategy designed to build scale and sustainability through organic growth and acquisition.
About Basic Fun! ™
Basic Fun! is a developer of innovative and fun children’s entertainment products. The company was created as a result of an organized roll-up strategy, of several smaller toy companies including: The Bridge Direct, Tech 4 Kids, K’NEX, Uncle Milton and Good Stuff. The company’s products are sold through a well-established network of retailers and distributors around the globe and include the following product lines: CakePop Cuties, Cutetitos, Classic My Little Pony, Mash’ems, Uncle Milton’s Star Wars Science activities and Original Ant Farm, C3 Collector Construction, Arcade Classics Electronic Games including Pac-Man and Frogger, Pokémon Trainer Guess, Fisher-Price Classics ®, Strawberry Shortcake, Lite-Brite ® and many more. For more information, visit www.BasicFun.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181001005303/en/
CONTACT: Ren Beanie Public Relations for Basic Fun!
Jen Derevensky, 305-788-6878
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA FLORIDA
INDUSTRY KEYWORD: DEPARTMENT STORES HOME GOODS CHILDREN PARENTING RETAIL SPECIALTY OTHER RETAIL CONSUMER
SOURCE: Basic Fun!
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PUB: 10/01/2018 08:00 AM/DISC: 10/01/2018 08:01 AM