PAWTUCKET – Hasbro Inc. has closed its deal to acquire several brands from Saban Properties LLC, including Saban’s Power Rangers, in a combination of cash and stock valued at $522 million, the company announced Tuesday.
The first set of Power Rangers products from Hasbro will be available in spring 2019.
The other assets acquired in the deal include My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives among others.
Hasbro paid Saban Properties $131.23 million in cash, including a $1.48 million working capital purchase price adjustment, and $25 million was placed into an escrow account. The company said that an additional $75 million will be paid on Jan. 3, 2019. The payments are being funded by cash on Hasbro’s balance sheet.
In addition, Hasbro issued more than 3 million shares of Hasbro common stock to Saban Properties, valued at $270 million.
Hasbro was credited $22.25 million related to a recent agreement with Saban Properties for the master toy license to the Power Rangers brand that was scheduled to begin in February 2019.