PAWTUCKET – Hasbro Inc.’s Joy for All brand, which included the Joy for All Companion Pets – interactive toy cats and toy dogs – has been acquired by a new company, Ageless Innovation LLC.
The new company was formed by former Hasbro employees that worked on the Joy for All brand, including Ageless Innovation CEO Ted Fischer, former Hasbro vice president for business development.
“Ageless Innovation will leverage the heritage of the Joy for All brand to create meaningful products that address a massive market need,” said Fischer in a statement. “We know that loneliness, social isolation and all forms of cognitive decline are rising at epidemic rates for older adults. Focusing 100 percent on this amazing population, coupled with our experience and partnerships in the longevity market, will help expand our strategy of increasing fun and joy while positively impacting quality of life and lowering health care costs for aging loved ones and their family caregivers.”
The launch of the company is based on a 100 percent asset purchase of the Joy for All brand from Hasbro.
“Since Hasbro launched the Joy for All brand two years ago, it has made a positive impact in the lives of seniors,” Hasbro President John Frascotti said in a statement. “The Joy for All team and countless members across the Hasbro organization worked hard to launch this new brand, and we wish the Ageless Innovation team the very best in taking this business to the next level.”
Ageless Innovation said in its announcement that it will specifically focus on developing “fun and engaging products that stimulate and foster meaningful connections for older adults.”
The company was co-founded by Fischer, Andrew Jeas, Tom Canterino and Meghan Gamboa. It is also headquartered in Pawtucket.
Chris Bergenheim is the PBN web editor.