PROVIDENCE – Hasbro has signed a definitive agreement 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.
Other brands the company will acquire include My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives and others.
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“Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” Hasbro Chairman and CEO Brian Goldner said in a statement. “Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint.”
Goldner also said Haim Saban, founder of Saban Brands and creator of the Power Rangers, will continue in a consulting role to “further guide our development of this valuable property for the next generation of Power Rangers fans.”
The transaction is still subject to regulatory approval, but the company expects to close the deal during the second quarter of 2018.
Hasbro would have its first set of products from the transaction available in spring 2019.
Hasbro had previously paid Saban Brands $22.25 million for the Power Rangers master toy license, which both companies announced in February. The license deal will be used as credit against the purchase price. The deal was set to take effect in 2019.
Hasbro will pay Saban $229.75 million in cash and $270 in Hasbro common stock.
“[Twenty-five] years after launching Power Rangers, I believe the future for this brand has never been greater,” Saban said in a statement. “Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property. I look forward to working with Brian and the team in the years to come.”
Chris Bergenheim is the PBN web editor.
