WowWee buys Think Tank
By Staff -- Playthings, 8/27/2008 1:56:00 PM
HONG KONG—WowWee USA has acquired toymaker Think Tank Toys Inc. for an undisclosed sum.
Based in New York, Think Tank Toys manufactures and markets plush toys, novelty items, action figures and promotional toys, including products featuring third-party licensed characters and properties such as Disney’s Hannah Montana, High School Musical and Camp Rock; and Chorion’s Mister Men Limited.
The company was founded in late 2006 by toy industry veteran Scott Bachrach, its president and CEO.
The move will provide WowWee with entry into "lower-priced merchandise, thereby decreasing reliance on seasonal sales, and with access to additional channels of distribution,” according to the company. In return, Think Tank Toys will leverage WowWee’s technology strength, operational organization and worldwide distribution network.
“Scott has an extensive background in identifying trends and we are thrilled to have him and the rest of Think Tank join our team,” said Richard Yanofsky, CEO of WowWee Canada. “This agreement allows us to continue to broaden our business and deliver entertainment products for all ages and at all price points.”
WowWee is best known for animatronic and R/C-enabled tech toys, like its 2004 break-out hit, Robosapien, and its recent FlyTech flying toys.
