Toymaker Mattel explores sale, has held talks with Apollo, L Catterton – source

The Mattel firm emblem is pictured on the entrance of the Montoi plant within the municipality of Escobedo, Mexico March 15, 2022. REUTERS/Daniel Becerril

April 26 (Reuters) – Toymaker Mattel Inc (MAT.O) is exploring a sale and has held talks with buyout corporations, together with Apollo World Administration Inc (APO.N) and L Catterton, a supply aware of the matter instructed Reuters on Tuesday.

The talks on a doable sale come a number of months after the California-based firm’s chief govt officer, Ynon Kreiz, mentioned Mattel had accomplished its turnaround plan and was in “progress mode”.

In its fourth-quarter ends in February, Mattel forecasted full-year revenue above analysts’ estimates, citing sturdy demand for its Barbie dolls and different toys that will assist the toymaker climate rampant provide chain disruptions. learn extra

L Catterton declined to remark. Mattel and Apollo World Administration didn’t instantly reply to requests for remark.

In January, Mattel received the rights to supply dolls primarily based on Disney royalty like Elsa and Jasmine, snatching again a extremely profitable license from archrival Hasbro Inc (HAS.O). learn extra

The Wall Avenue Journal reported on the potential sale of the toymaker earlier on Tuesday.

Reporting by Greg Roumeliotis in New York and Sabahatjahan Contractor in Bengaluru; Further reporting by Shivani Tanna in Bengaluru; Enhancing by Subhranshu Sahu

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