Propel Equity Partners, a private equity firm focused on investing and creating value in leading consumer brands, has acquired Buzz Bee Toys.
Buzz Bee Toys, a diverse line of active play toys, will join the ALEX BRANDS family of brands, which includes ALEX TOYS, POOF, SLINKY, SCIENTIFIC EXPLORER, IDEAL, ZOOB, BACKYARD SAFARI, ZILLIONZ, CITIBLOCS and SHRINKY DINKS.
The acquisition marks the eighth by Propel Equity Partners since August 2012 on behalf of the ALEX BRANDS family of brands.
“This acquisition is yet another step in our strategy of building ALEX BRANDS into a home of best-in-class brands in the toy industry and an indication of our strong belief in the health and vitality of this sector,” says Michael Cornell, Chairman and CEO of Propel Equity Partners.
First introduced in 2002, the Buzz Bee Toys portfolio of brands includes Air Warriors, Water Warriors and Ruff Stuff and provides an active play experience with an extensive line of high quality, innovative products ranging from dart blasters and water blasters to water toys, flying toys, role play, and junior sports offerings. Buzz Bee Toys joins a growing collection of indoor and outdoor active and pretend play products at ALEX BRANDS including POOF foam balls and BACKYARD SAFARI adventure series.
“The addition of Buzz Bee Toys builds on the momentum that ALEX BRANDS has been generating, most recently through our licensing partnership with Nickelodeon and the incorporation of SHRINKY DINKS into our family of brands,” says Neil Friedman, President and CEO, ALEX BRANDS. “Through this series of acquisitions and announcements, ALEX BRANDS is further enhancing its position as a leading provider of brands that play a central role in helping children to develop their creativity and imagination, as well as keeping them physically active.”
“We are thrilled for Buzz Bee Toys to join the ALEX BRANDS family through this acquisition, and we see tremendous possibilities for growth by working with the ALEX BRANDS team and alongside the other brands in the group,” says Jeff Zimmerman, CEO of Buzz Bee Toys.
