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Spin Master closes purchase of toy brands from Maya Toys

Canadian toymaker Spin Master Corp. has completed the purchase of water beads brand Orbeez and other select toy brands from Maya Toys Inc.

Financial terms of the deal were not disclosed.

"We're thrilled with this acquisition, which further strengthens our vibrant and growing activities business, providing recurring revenue and opportunities for integration into our existing product lines, as well as for further innovation," Spin Master Co-founder and Co-CEO Anton Rabie said.

The Orbeez deal marks Spin Master's 21st acquisition since it was founded in 1994.