Hasbro Inc. on June 12 completed its acquisition of several assets owned by Saban Properties LLC for a total amount of $522 million.
The deal, announced May 1, includes the purchase of the following brands: Power Rangers, My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives. It also covers related intellectual property, category rights and content libraries owned by Saban Properties and its affiliates.
Hasbro is still expected to pay $75 million on Jan. 3, 2019, under the agreement. The company already gave $22.25 million to Saban Brands LLC, an affiliate of Saban Properties, for a Power Rangers master toy license in February. Then, upon deal closing, it paid another $131.23 million in cash. Hasbro also placed $25 million into an escrow account, half of which will be released Jan. 3, 2019, while the other half will be released June 12, 2019. The Play-Doh owner also issued common shares valued at $270 million to Saban Properties.
The toymaker added that the first Hasbro-owned Power Rangers line will be unveiled in the spring of 2019.