PAWTUCKET – Hasbro Inc. completed its acquisition of Entertainment One Ltd., the company announced this week.
The deal was valued at about $3.8 billion in cash considerations. The massive deal will bring Hasbro operations in film, television, and music production and distribution, including the popular Peppa Pig franchise.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” said Brian Goldner, Hasbro chairman and CEO. “Our businesses are highly complementary, with substantial synergies and a great cultural fit.”
The acquisition is expected to allow Hasbro to grow in the area of television and film.
“The addition of eOne accelerates our blueprint strategy by expanding our brand portfolio with eOne’s beloved global preschool brands, adding proven TV and film expertise, and creating additional opportunities for long-term profitable growth,” said Goldner. “We are pleased to welcome the incredibly talented eOne team to our company.”
The company also noted that it intends to redeem eOne’s outstanding secured notes to pay off debt outstanding under eOne’s revolving credit faculty, which represents roughly $786 million.
Entertainment One CEO Darren Throop will stay with the company and report to Goldner.
The deal closed Dec. 30.
