Business

Mattel to buy Canadian toy maker Mega Brands

TORONTO — Mattel Inc. has made a friendly takeover offer for Canadian toy maker Mega Brands Inc., which has the world’s number two line of construction sets after Lego.

The deal values the Montreal-based company at $460 million, including debt that the American industry giant would assume or repay.

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Mattel manufactures Barbie dolls and Hot Wheels cars among other toys. The company says Mega Brands would help it expand in two of the fastest-growing product segments: construction sets and arts and crafts.

Bryan Stockton, Mattel’s chairman, said Friday that Mattel would keep the Mega Brands head office in Montreal and invest in its manufacturing operations.

Associated Press

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