Canadian toymaker Spin Master Corp. said March 5 that it will purchase stuffed toy maker Gund from U.S. giftware company Enesco LLC for $79.1 million.
The deal will allow Spin Master to expand into the infant toy and specialty gift categories, according to the release. The purchase price will be settled using the company's internally generated cash resources and its credit facility.
The acquisition is expected to be completed April 1.
