Hasbro takes over Entertainment One in £3.3bn deal

On Friday, Hasbro struck a deal with the multimedia company, Entertainment One, most famous for its preschool programme, Peppa Pig. It is the biggest acquisition for the US toymaker, which also owns My Little Pony and Play-Doh. The announcement of the deal led to a surge in the share price of Entertainment One by 30 percent during early trading on Friday. The company said that its shareholders would receive £5.60 for each common share.

Hasbro which owns world-famous games such as Monopoly, Power Rangers, Transformers and Nerf, released a statement, which read, “Hasbro will leverage Entertainment One immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally.”

Entertainment one is known for producing and distributing music, films, television series, and children shows. Some of its well-known shows and films include The Walking Dead, Twilight, Hunger Games series, and the Oscar winner Green Book. Among the children programmes, besides Peppa Pig, it shows PJ Masks and Ricky Zoom are very popular among kids.

With regard to winning eOne’s jewels in its kitty, Hasbro’s chairman and chief executive officer, Brian Goldner, said, “The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling.”

He added, “There’s a strong cultural fit between our two companies,” said Darren Throop, the chief executive of Entertainment One. “Hasbro’s portfolio of integrated toy, game and consumer products will further fuel the tremendous success we’ve achieved at eOne.”

It is another one among the recent acquisitions of UK-listed companies by foreign corporations as the pounds falls amid the no-deal Brexit fears. The recent ones include the takeover of one of the oldest UK beer company Greene King, UK aerospace and defence supplier Cobham and the food delivery company Just Eats.

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